The bad news is that bankruptcy and foreclosure are still on the rise in Georgia. The good news is you still have many options, no matter how bad you are in debt or how close you are to foreclosure. The problem many have is spending more than they can afford in the first place. Because of price and experience differences, many myths abound about bankruptcy lawyers. This guide tries to explain both sides.
They Overcharge
As with any myth, there is some basis for truth. It’s a fact that some lawyers do overcharge. Some lawyers, on the other hand, charge much less than their experience merits. Bankruptcy law is not a service to make millions of dollars. It’s perhaps the lowest paying law field in terms of per client pay. Bankruptcy lawyers rarely expect to make more than $1,000 to $2,000 off a client who already lacks money. Where a DUI lawyer may cost you tens of thousands and a personal injury lawyer far more, many good Georgia bankruptcy lawyers charge minimum fees.
The Lawyer Has No Time
This has some basis for truth to. If you hire the lowest priced lawyer, he or she is likely making money by taking on dozens of clients at a time. However, experienced Georgia bankruptcy lawyers who charge more often put much more effort into ensuring your bankruptcy succeeds.
Bankruptcy Is Easy
Bankruptcy law is not an easy field. It has changed much in recent years with so many more bankruptcies being filed, especially in Georgia. True, it’s easier to represent a bankruptcy client than a murder suspect, but it still requires education, in court experience, and knowledge of the law.
Experience Does Not Matter
Experience does matter. There is really no basis for truth here, as experience always matters. The more complex your bankruptcy case is, the harder it will be for your lawyer. A lawyer with 10 to 20 years bankruptcy experience in Georgia will know far more than a lawyer with less time in and out of court rooms. You sometime pay more for experience, but just like you want your doctor to be professional and experienced, so too do you want a knowledgeable bankruptcy lawyer.
You Need No Guidance
You can do it yourself, right? Or can you consult with some financial experts and discharge your debts? This depends on how big your debts are, how much you stand to lose, and your income. You always need guidance from a lawyer when filing bankruptcy unless you’re a bankruptcy lawyer. If you fill out documentation wrong, it can cost you time. If you break laws knowingly, you can be charged with a crime. If you are in danger of losing your home to foreclosure, time is critical.
Bankruptcy Solves All Problems
Finally, we went over many common myths on professional bankruptcy lawyers. But now it’s time for a reality check. Filing bankruptcy in Georgia will not solve all your problems. It’s not always in your best interest. And a lawyer can only do so much.
Bankruptcy is an option for many. Some use it to protect homes and cars, others wages, still more to discharge debts that would cripple their families. The advantages are many, but remember to consult with an expert.
