A Bankruptcy Attorney Thrives When The Economy Cause Many Into Bankruptcy Filing
A terrible recession should be a great time for a bankruptcy lawyer. With so many people and businesses in financial trouble, a bankruptcy attorney certainly has a lot of demand for their services. Bankruptcy lawyers are told their business is countercyclical, meaning that they are at the busiest with the economy is the worst. But interestingly, that’s not entirely true. Clients are in far worse shape than when the economy was thriving. Working for people with good jobs but too much debt is a lot easier than it is if they have no job at all. First of course, because it’s harder to pay a lawyer if you can’t pay rent. And sometimes it makes more sense to file bankruptcy to solve your debt problems when you know you’re already hit rock bottom and things are starting to improve. That might not be right now. But more importantly, as with most things in life, your choices are fewer without a decent income.
One of the most frequent complaints made about a bankruptcy attorney is a lack of communication or not returning phone calls requesting information. Attorneys generally know this. So, why wouldn’t an attorney return phone calls on a timely basis? Some attorneys charge a flat fee you do not charge for individual calls and others charged on an hourly basis. For the attorney themselves to return the phone call is not cost effective, especially when billing is on an hourly basis. If the bankruptcy attorney is calling just to tell the client I don’t know the answer yet, I am waiting on word from the court, the trustee, the creditor, the co-debtor, the mortgage company, the car creditor and so forth, that phone call is not an economical use of the attorney’s time and can’t be delegated to a staff member. This is the main reason why it is more cost-effective to use an attorney assisted online bankruptcy filing service. You pay a lot less and you get the benefit of getting your questions answered in a timely fashion.
