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Why Bankruptcy Retainer Agreements Are Necessary

Why Bankruptcy Retainer Agreements Are Necessary
"""Hiring a bankruptcy lawyer is no small undertaking.You have confidence in a professional who will assist you in resolving your bill issues.As emotional as this time may be, you must also consider that this is a business transaction.Spend money on services that are worth the investment.

To keep things straightforward, retainer agreements are an absolute necessity when hiring a bankruptcy attorney.Retainer agreements must be in writing and signed by both parties to eliminate the possibility of confusion in the future.This is too important to do on a handshake, but more importantly, you must know who is responsible for what throughout the course of your relationship.Indeed, I referred to it as a relationship.Whenever you will be working intimately with another person for an extended period of time, that is a relationship.

Numerous clients seek my assistance in filing a Chapter 7 or Chapter 13 after consulting with and, in some instances, retaining another attorney.A significant number of these individuals paid their erstwhile attorneys for... well, something.They are unclear on precisely what the attorney was going to do, when they were going to do it, and how much it would cost.They have a vague notion, but not much more than that.

If your bankruptcy attorney does not offer written retainer agreements, you should flee in the opposite direction.

If you need a law degree to comprehend your attorney's retainer agreement, you should look elsewhere.

For you, these are deal-breakers.No question about it.

Typically, bankruptcy retainer agreements stipulate at least the following:

How much it will cost to file bankruptcy with the attorney's assistance;
What the legal fee includes and does not include;
How much it will cost if the attorney must perform services not included in the legal fee.
When the court will receive your case;
Whether your attorney will use a co-counsel for your court appearances; and
What you must do to ensure the case is handled appropriately.

Always read the retainer agreement before signing it when deciding to file for bankruptcy with an attorney.This will save you a great deal of trouble in the future.""

" - https://www.affordablecebu.com/
 

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"Why Bankruptcy Retainer Agreements Are Necessary" was written by Mary under the Finance / Wealth category. It has been read 174 times and generated 0 comments. The article was created on and updated on 02 June 2023.
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