the Price of Bankruptcy Lawyers

After a severe cut in hours at work, my husband and I made the gut wrenching decision to inquire about bankruptcy. Our first appointment with the attorney was at no charge while he went over our options with us. When we decided to proceed we had to pay $774 (including a $274 court filing fee). We then set up a payment plan so that all of our debts will be wiped clean within 5 years.

The attorneys were very nice, but I found all of the document gathering we had to do very tedious. I never realized so much was involved! Coming up with estimates on literally everything we owned, plus how much we owed to every single creditor we had, was very humbling. It definately made us think twice about buying anything else on credit. Debt counseling was also offered as part of our plan, and although we went to a few sessions, we decided that using cash only from now on made the most sense for us.

Bankruptcy isn't something most people discuss, but should anyone mention having done it, ask them for referrals. We discovered, for example, that some of the attorneys don't take the time to explain all of your options, or push you towards doing the quickest option, which leads to even more headaches.