It’s a familiar cliché to most people: “You get what you pay for.”
It’s true when it comes to a variety of products and services, and in many cases, it’s true when it comes to hiring a bankruptcy attorney. And though the period of your life in which you’re hiring a bankruptcy attorney is likely a time when you’re most motivated to be frugal, taking the cheap route can get you into trouble.
The truth is cutting corners when you hire a bankruptcy attorney, or not hiring an attorney at all to help you file, can cost you a lot more in the long-run.
Of course, this isn’t to say there aren’t bankruptcy attorneys out there who provide good value. We like to think our rates are reasonable without being “too good to be true.” The key is to find a good value – someone whose rates are reasonable but who charges for quality services. You should be skeptical any time it seems as if you are getting something for nothing.
What Harm Can Be Done by Choosing an Attorney Who Offers Rock Bottom Rates?
• Communication between you and your attorney is lacking and you miss out on important information
• Deadlines are missed
• Things “fall through the cracks,” possibly because the attorney isn’t educated or experienced enough to catch them
• Strategies are overlooked and you miss out on the opportunities provided by bankruptcy
• Cases are completely mishandled, resulting in rejection of a bankruptcy request
Your attorney is a resource to help you make the most of your bankruptcy opportunity. Working with someone who you choose solely based on his or her low rate can result in you missing out on some of these opportunities. And that’s a best case scenario. It’s possible for a cheap attorney to cost you your entire bankruptcy.
Should I Hire the Most Expensive Attorney I Can Afford?
You might think that if hiring the cheapest attorney you can find is the worst thing you can do, than hiring the most expensive would be the best. Unfortunately, you’d be mistaken and potentially costing yourself money you don’t have to waste.
Just because an attorney charges exorbitantly high fees doesn’t mean he or she is better than someone whose fees are lower.
The bottom line? You should never hire an attorney solely based on cost.
It’s important you shop around and speak to more than one attorney when considering bankruptcy. And there’s no way around it – cost is going to be a factor, just as it is when investing in most things.
The thing you need to remember is that cost should not be the only factor, just part of your decision. It’s also important to consider experience in general, whether or not the attorney works exclusively with bankruptcy cases, and how you feel in general during your consultation. When you find an experienced bankruptcy attorney with a communication style and approach similar to your own, this person is worth his or her weight in gold.
If you’d like to know more about finding a qualified bankruptcy attorney in your area, check out this information from Bankrate.com.
To learn more about what you should look for in a bankruptcy attorney or to schedule a consultation to determine if we’re the right firm to represent you during your bankruptcy, contact the Law Offices of Robert M. Geller at 813-254-5696.