If you are filing bankruptcy you most likely don’t have enough cash that allows you to just throw at bankruptcy attorney fees. It can be quite frustrating when you have finally made the decision to file bankruptcy and you know you have to come up with more money after you have saved to pay the initial consultation fee. The initial attorney fee can be anywhere up to a couple thousand. You definitely don’t want to pay fees upon your initial filing fee.
Why is it difficult to pay these fees?
The typical debtor has most likely lived on using credit cards for quite awhile before they come to the realization that they can not continue down the same financial path they are on. Some times these conclusions are done by the individual and sometimes they come to the realization by a financial crisis when they realize they need to pay for a major expense and their credit is either capped because they reached their credit limit or they can not attain more credit to pay for what they currently need. It is at this point people begin to look at their options. One of the frustrations with paying an attorney comes because all their cash must be used on credit card payments to stay current. However, once someone meets with a bankruptcy attorney and they continue to use the credit card they are possibly committing fraud by continue to use credit cards. Therefore, they can not use the credit card to pay their attorney. Fortunately, the debtor can pay the fees with in a couple months if they stop paying on all their credit cards. This will be the advice of the attorney, quit paying on all the credit cards and pay a retainer fee and then you can save the money to pay the attorney in full. The attorney should be willing to accept all creditor call once the retainer fee is paid. Unfortunately, after the paper work is files several attorneys will require more money to update bankruptcy paper work. If you forget other assets or debts it will cost extra to update your bankruptcy schedules. Therefore, if you plan on filing take time to look at all your assets and debts by pulling credit reports and finding ways to interview and ask questions from other Michigan bankruptcy attorneys
