Colli Real Estate

How Much Does a Bankruptcy Cost in Missouri and Illinois?

If you are thinking of filing bankruptcy and have done some research, you may be thinking, “Yea, this all sounds great, but how much is it going to cost?” And I can’t blame you for wondering—after all, when you’re in debt, spending more money isn’t exactly at the top of your list of things to do. But there are a few factors that may make you see why price isn’t the most important thing to consider when choosing a bankruptcy attorney.

The first thing to keep in mind is that bankruptcy fees are regulated by the court. We’re only allowed to charge a certain amount. That law was created to prevent people from taking cost into consideration when they are choosing the best bankruptcy attorney. The alternatives to bankruptcy, like debt settlement and loan modification, are not regulated—which means they can raise their prices to where ever they see fit. That could be another reason that scams have been so prevalent in both industries. The FDIC even issued a warning to “beware of foreclosure rescue and loan modification scams,” out of concern for the growing amount of people who have become victims.

Choosing the cheapest attorney may not help you have a successful bankruptcy case. Since 99% of bankruptcies take the same amount of work, they are probably only charging you for the amount of work they are planning on doing—which might not be much. A cheap price might also be a warning sign that there are hidden fees that may be due after you sign. Think about it. If you needed open heart surgery, would you look for the cheapest surgeon? No. You’d probably look for the best. Why take that risk with your financial future?

Plus, a bankruptcy attorney who truly wants what is best for you will be truthful and honest with you–and talk to you about it for free. But the best bankruptcy attorneys will have websites, books, and other info available so you can learn about bankruptcy before you even step foot in an office. If an attorney takes the time to educated you before you even set foot in his or her office, it is probably a good indicator that they want you to truly understand the process before you file. I hope you keep these things in mind when you look for the best bankruptcy attorney for you.

About the Author

Missouri attorney James Brown has been helping hard-working American families get relief through bankruptcy for more than 15 years at Castle Law Office. He has released five publications, including the essential guide to debt relief, called, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.” To request a free copy or simply get more information about options for relieving debt, you can visit his website at http://www.CastleLaw.net .

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