If you are considering a bankruptcy you are obviously experiencing some major financial hardships. You may have come to the conclusion that bankruptcy is the right course for you, but now realize you’ll have to find a way to pay for the bankruptcy too. Sadly, in this day and age many consumers feel too broke to even go bankrupt. When you already can’t make ends meet paying for a bankruptcy might seem like a real dilemma, but the good news is that most bankruptcy attorneys understand this and are willing to offer payment plans to help alleviate the financial burden of the bankruptcy itself. After all, and in a big picture, remember that bankruptcy attorneys are there to help clients overcome their financial troubles, not add to them.
So that’s great you say, but even with a reasonable payment plan and a helpful attorney, how am I supposed to get the money, I’m completely underwater and I’m getting 100 phone calls a day from threatening creditors and worse.
Well fortunately for you, as the very first order of business when you file for bankruptcy most attorneys will advise you to immediately stop making any credit card payments, bank loan payments, or payments towards items like past due medical bills. While you should continue making payments towards the assets you are keeping like your car or home, with your filing now in motion a considerable amount of money should be available to pay for the bankruptcy that would have otherwise been going to your creditors.
For the average consumer, this will typically free up enough money for the initial deposit for a bankruptcy attorney and will often be enough to fund the entire bankruptcy case.
Well maybe you are not working, or maybe you have already stopped paying your creditors and still anticipate a hard time paying for your bankruptcy. Luckily most bankruptcy attorneys offer some type of reasonable payment plan with regular installments that are paid over course of the average 4-6 week preparation period.
In a chapter 7 bankruptcy all funds are typically collected prior to filing the bankruptcy petition, but in a chapter 13 bankruptcy payment is made through the court and can be added to the chapter 13 payment plan as a way to help clients pay for their bankruptcy and to expedite the filing.
So while you may feel too broke to go bankrupt, the truth is that most consumers will find a way through the savings on the large monthly debts they have been paying, the filing status they choose, and by virtue of the payment plans offered by most bankruptcy attorneys.
The Law Office of William Waldner is happy to help clients with payment plans and understands that clients are often ready to proceed, but may be worried about adding even more debt to their seemingly desperate financial situation. We specialize in bankruptcy law and can advise our clients on the best ways to fund their bankruptcies, and always offer a free consultation. With a reasonable deposit and agreed upon flat rate for your bankruptcy, you will begin seeing the results and getting the financial help you need on day one.
If you are ready to get going on your bankruptcy now please mention this blog post when arranging your free consultation by referencing the promotional Code: PPB212 to receive a free credit report with any signed retainer agreement.
If you live in New York and are interested in a free bankruptcy consultation please call 212-244-2882. The Law Office of William Waldner only practices Bankruptcy Law and is always here to help.
This article is intended for educational purposes only. By reading this article no attorney-client relationship has been created.