Choosing a Bankruptcy Attorney

Here are a few things to keep in mind when selecting a bankruptcy attorney:

  1. Price - This is listed first not because it’s the most important, but because it may be the most shocking.  It is not unusual for a bankruptcy lawyer to charge $2,500 and ask for half the money upfront.  I know, you’re thinking “if I could afford that, I wouldn’t go bankrupt”, but the truth is, going bankrupt is not cheap.  You want a lawyer with the knowledge and expertise to get the job done without any mistakes or last minute surprises - and that costs money.  You don’t want the cheapest lawyer you can find, because they’re probably cheap for a a reason.  You will also need money upfront for the filing fee and the credit counseling fees.
  2. Location - You will need to meet with your lawyer possibly several times during the process.  Find someone convenient to you.
  3. Time - Find a lawyer that has the time to dedicate to your case.  When you interview the lawyer is he taking time to listen to you?  Or is he rushing you out the door to get to the next client?   This may be a sign he doesn’t have the time to add you to his case load.
  4. Comfort - Find someone you’re comfortable with.  You will be divulging all of your personal financial information to this person, and you will be spending some time with them.  Make sure this is someone who you are comfortable dealing with about such private issues.

In the end, selecting a bankruptcy attorney is much like selecting a good doctor or mechanic.  You want somebody you’re comfortable with, who has time for you, who’s convenient, and who charges a fair price.