Have you been avoiding contacting a bankruptcy attorney because you think it's too expensive? Don't let this common misconception stop you from getting the debt relief you need. Filing for bankruptcy may be more affordable than you think, especially if you consider Chapter 7 or Chapter 13 bankruptcy.
Chapter 7 bankruptcy is often referred to as "liquidation" bankruptcy because it involves selling your non-exempt assets to pay off your debts. This may sound daunting, but it can actually be a relatively quick and affordable option for those with limited income and assets. On the other hand, Chapter 13 bankruptcy involves creating a repayment plan to pay off your debts over three to five years. While this option may take longer and cost more in fees, it can be a good choice for those with a steady income and valuable assets they want to keep.
It's important to note that bankruptcy does come with some costs, such as attorney fees and court filing fees. However, many bankruptcy attorneys offer payment plans or reduced fees for those with financial difficulties. Additionally, the benefits of bankruptcy, such as the discharge of most unsecured debts and the ability to stop creditor harassment and wage garnishment, can outweigh the costs in the long run.
Don't let the fear of cost stop you from considering bankruptcy as an option. Contact a bankruptcy attorney to discuss your specific situation and find out what options are available to you.
Can I Use My Credit Card to Pay My Bankruptcy Attorney?
If you're considering filing for bankruptcy, it's important to know that bankruptcy attorneys do not accept credit card payments. While they do accept cash, check, and debit card payments, credit card payments are not allowed. This is because using a credit card with no intention of repaying the debt is considered fraud against the credit card company.
When you sign up for a credit card, you agree to the terms and conditions that include a promise to repay any amounts charged to the card. If you use the card to pay for purchases or services with no intention of repaying the amount, you're committing fraud. This can lead to prosecution by law enforcement officials, resulting in fines and jail time.
Credit card debts are considered unsecured debts, which can be discharged through bankruptcy. When you file for bankruptcy, your unsecured debts are discharged, and creditors cannot take any actions to collect them. Because of this, bankruptcy attorneys cannot accept credit card payments as payment for attorneys' fees or filing fees.
It's important to note that while bankruptcy can discharge your credit card debts, it's not a decision to be taken lightly. It can have serious consequences on your credit score and financial future. It's best to consult with a bankruptcy attorney to determine if it's the right option for you.
How Much Do Bankruptcy Attorneys Charge?
If you're considering filing for bankruptcy, you may be wondering how much a bankruptcy attorney will cost. Well, the answer is not straightforward, as it depends on various factors. The complexity of your case, the chapter of bankruptcy you're filing, the attorney's experience and skills, and the area you live in are some of the factors that influence the attorney's fees.
However, there's no need to worry. We've got you covered. Our bankruptcy attorney fee estimator (also available below) can help you estimate the cost of hiring a bankruptcy attorney in your area. Additionally, we can assist you in finding a bankruptcy attorney who offers free consultations. So, don't let the fear of high fees stop you from seeking the help you need.
What About Taking a Cash Advance on a Credit Card for Bankruptcy Attorney Fees?
Thinking of using a cash advance to pay for your bankruptcy attorney fees? You might want to think again. While it may seem like an easy solution, the Bankruptcy Code has specific rules regarding cash advances and luxury purchases made within 70 to 90 days of filing for bankruptcy relief.
If you use your credit card to buy luxury items that total $725 or more within 90 days of filing for bankruptcy, that debt might not be discharged. Similarly, if you take cash advances of more than $1,000 within 70 days of filing for bankruptcy, your debt is presumed to be fraudulent.
So, taking a cash advance to pay for a bankruptcy attorney is not a viable option. The same goes for personal loans or payday advances. If you enter into a loan agreement with the intention of filing for bankruptcy to avoid the debt, you are committing fraud. The debt is presumed fraudulent if it falls within the specified timeline.
It's important to be aware of these rules and to seek out alternative ways to pay for your bankruptcy attorney fees. While it may be tempting to take a shortcut, doing so could have serious consequences. Consulting with a bankruptcy attorney can help you understand your options and avoid any potential legal issues.
Do Bankruptcy Attorneys Accept Payments?
If you're considering filing for bankruptcy, you may be worried about the cost of hiring a lawyer. Fortunately, many bankruptcy lawyers understand that their clients are going through a tough financial time and are willing to work out a payment plan for their fees. This means that you may not have to pay the entire fee upfront.
In a Chapter 13 case, the attorney can include some or all of their fees in the Chapter 13 plan. This means that you may only need to pay the bankruptcy filing fee and a small portion of the attorney's fees to get the Chapter 13 case filed. However, in a Chapter 7 case, there is no repayment plan, so you may need to pay all of the attorney's fees before they file the case.
That being said, some attorneys may be willing to file a Chapter 7 case and accept a payment plan that includes payments after the case is filed. It's important to note that each attorney is different, and it's a good idea to meet with several attorneys before deciding which one to hire. Many offer free consultations, so take advantage of this to find the right bankruptcy attorney for you.
Contact for More Information About Filing Bankruptcy and Non-Bankruptcy Debt Relief Options
We understand that debt can be overwhelming, and we're here to help you find the best solution for your situation. The good news is that most of our services are free of charge.
Our team is available to discuss your financial situation and provide personalized assistance to help you understand your finances. Best of all, there's no cost to talk to us about our services.
We'll analyze your financial situation and provide you with an overview of the pros and cons of various debt-relief options. We'll also provide you with payment estimates to help you get out of debt. All of this is done free of charge. So don't hesitate to call or contact us online today to begin your journey to becoming debt-free.