Cash issues can cause your family to be ripped apart. Most people have loans and mortgages, non-payment of which can cause creditors to repossess the property. This can cause problems in your family life, often leading to separation and divorce. You cannot afford to lose your support system along with your belongings. Hence, hiring bankruptcy attorneys is the most sensible thing to do. With many financial legal professionals available in Homewood, Alabama, finding one to represent you would take time and effort.
Research is the key to narrow down prospective lawyers
Hiring local county attorneys who have experience in handling debt consolidation and bankruptcy cases is the key to getting rid of your problems. Ensure that the law firm you choose has a track record of successfully handling repossession or foreclosure cases for their clients which can be verified online. Asking your contacts (family, friends, colleagues, and neighbours) for references can be a smart move since apart from their legal acumen you can also find out about their behaviour and approach towards clients. You could also ask your lawyer friends for bankruptcy attorney referrals. If nothing works, you can trust the Homewood bar association list to provide you with the names of bankruptcy attorneys along with their ZIP code.
Learn the difference between different bankruptcy chapters
Insolvency can be filed under different bankruptcy chapters. Chapter 7 is for people with a low source of income. In this case, you do not have to pay any money back to your creditors only your non-exempt property is liquidated. Chapter 13 is meant for people with regular income. A repayment plan is developed by your attorney based on your disposable income to pay back your creditors over a period of 3 to 5 years. You can get to know more about these during your discovery meeting.
What will it cost you to file for bankruptcy in Homewood, Alabama?
The cost of bankruptcy is not the same everywhere. Several factors contribute to the varying cost. These include the county, state, and court you are filing in. Even the lawyers charge varying amounts depending on the chapter of bankruptcy you file in and whether your case involves repossession or foreclosure. Thus, it is important that you get as many quotes as possible from the lawyers you have shortlisted. Apart from the lawyer’s fees you also need to pay for court and counselling charges. On an average Chapter 13, bankruptcy may cost you approximately $2000 in attorney fees.
The discovery meeting
Once you have verified the past record of lawyers as well as their fees, you can opt for a discovery meeting where you can satisfy all your doubts. Being prepared for this meeting which is generally free of cost is important. Therefore, prepare a list of queries you need to ask the lawyer about their process of working as well as bankruptcy in general. Apart from technical expertise you also need somebody who can hold your hand during this tough time. Your lawyer should be sensitive to your situation, and trustworthy to share personal financial information. Knowing about the paralegals, their education, and familiarity with your case is important since they might be handling your case. If you feel satisfied with the discovery meeting you can go ahead and sign the contract to beginyour journey to be debt-free.If, however, you have your doubts, move to the next lawyer on the list.
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