Most people don’t realize it but being really successful in a bankruptcy filing requires a good relationship with one’s bankruptcy attorney. Filing bankruptcy is a team sport that requires everyone to work together like a well oiled machine. Using a football analogy, with the attorney being the quarterback calling in all the plays, if it weren’t for the line or the paralegals, the opposing team will run amok all over the quarterback. The law office staff is very important running interference for the attorney and their client. Prior to filing bankruptcy, creditors are very aggressive in their attempt to collect on a debt, but having a professional staff to handle those calls will make the process go a lot smoother and less stressful for the client. Just like with the football team if one person doesn’t do their job then the damage can be endless. That’s why when someone is hiring a bankruptcy lawyer they need to use their gut feeling on how they feel about the person they are hiring. When going in for a free consultation, it’s best to look around and talk to the paralegals and the office staff to see what kind of dynamic is going on. If everyone’s unhappy and stressed out, this probably isn’t the office that someone will want to spend much time in. Nothing is worse than being stressed out by a creditor that is threatening the client only to have a staff member minimalize it or give them lip. When considering a Chapter 7 bankruptcy will take 4 to 6 months and a Chapter 13 will take 3 to 5 years, it would be a good idea to find someone you trust and don’t mind confiding in with him and your entire personal life.
When someone hires an attorney they definitely won’t want it to turn into a nightmare. Remember, the bankruptcy attorney the person hires won’t care if the individual leaves because they’ve already been paid. Try squeezing blood out of that turnip, it’s like trying to beat the odds at a Las Vegas casino, eventually no matter how lucky you are you will lose. In most situations, before a bankruptcy attorney will even file a bankruptcy petition, the entire fee must be paid. If someone bails out early with only paying half of the fee, the bankruptcy attorney will send an itemized list of expenses incurred and will return any overage that was previously paid. After talking to people in this exact situation, rarely do they get anything back. This means they kind of have you over a barrel and if you leave you might not get anything back. A new counsel will be starting from scratch again and for someone that is filing bankruptcy, money is scarce and usually not available to hire another law firm. It’s a much better idea to take the time and consult a few lawyers so they can see the difference of personalities and staffing.
As the middle-class continues to shrink, Americans need to keep their eyes on the real economic numbers and not watch the stock market. Even though the government is reporting unemployment numbers of 6.7%, the real picture is the true numbers are much higher than that. All someone needs to do is look around them and see the continued layoffs and the closure of retail stores nationwide. The old adage, if it sounds too good to be true it is too good to be true rings loudly these days when watching TV. Most Americans are living on their available credit that will soon dry up leaving them with only one option and that is a bankruptcy filing. We are currently living in very scary times with the Cold War heating up once again with Russia and China we can only surmise what our economic future has in store for us. This is why Americans need to be proactive and do whatever necessary to get back on the road to becoming debt-free even if it means filing for bankruptcy.