You need to file for bankruptcy through a bankruptcy attorney, but how do you pay him? After all, you don’t have any money. This is a common question that people ask when they are forced to file.
Bankruptcy attorneys are ready for it. Here are some of the ways they suggest you pay them:
• You can pay in installments. You will agree on duration and amount each month and he will be paid along with your other creditors every month.
• Some lawyers are more proactive. They look at your debt and then help you restructure it so that it frees up enough money to get them paid. This is a better option for you if it can be done; it saves you from having to think about paying him every month.
• If you know early enough that you will be filing for bankruptcy, you can use your 401K funds to pay your lawyer. This rarely happens because people hold out to the last minute before they admit that they need to file for bankruptcy.
• When things are very bad, some lawyers will advise you to look to your friends and family. Many are willing to help especially if they can understand your circumstances. This is usually a last resort though.
Lastly, when you are shopping for a bankruptcy lawyer, you should look for one who is known for getting results without asking for too much in fees.
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