Most people facing bankruptcy can afford a lawyer’s assistance, especially in Iowa.
Not all bankruptcy lawyers have rates so high you cannot afford to pay them. There are some that have very reasonable rates and will go out of their way to help you, simply because they understand what it is like to be facing bankruptcy. They offer competent services, are dedicated to helping you through the process and have only your best interests in mind.
These days, it is not unusual to meet a lot of people who are struggling with the specter of going bankrupt; a personal decision that causes many people anxiety, guilt and shame. They feel like they are between a rock and a hard place and just want to salvage their lives and get on with things as best as they can. When they are facing a very real cash crunch where the income does not meet outgoing payments, it is time to make decisions about the future. The awful economy is a burden to many in America, with more and more getting into serious financial trouble. This raises the question of how debtors can raise cash to pay a bankruptcy lawyer’s fees.
If you do not think that things are that bad, consider this. During 2010, there were 1,572,597 bankruptcies filed across the United States. This is 20 percent higher than 2009, when the figure was 1,306,315. This is relevant because the latest figures are the highest for any period since the introduction of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
The idea behind this act was to make it harder and more expensive for anyone to file bankruptcy. Put another way, it tightened restrictions on filing bankruptcy. You would think filings would go down, but instead, in spite of the new law, increasing numbers of Americans are saying bankruptcy is the best option for them to solve their financial predicament and unmanageable debts.
This drastic rise in the number of bankruptcy filings is directly attributable to one factor – people losing their jobs. If you take a good look at the unemployment stats, you will notice that the U.S. still hovers at about a 10 percent unemployment rate. That is a frightening statistic on its own, but add in the fact that the economy has driven service and manufacturing jobs offshore and you get a recipe for bankruptcy. The numbers of foreclosures are creeping up every passing day. Joblessness is the number one reason cited for filing bankruptcy.
When you lose your job, you tend to lose medical coverage. If you have a medical crisis, the bills will drive you to the end of your rope. It is no wonder people choose bankruptcy as the only option to get back on their feet again. But how does a bankruptcy applicant pay their legal bill? This is a good question, as debtors are finding they cannot pay the bill to file because lawyer’s fees and filing fees have gone up and, thanks to the 2005 act, there is even more paperwork and additional forms.
While it may look dismally bleak when it comes to trying to file for bankruptcy and finding the funds to pay for the lawyer, not all lawyers charge higher fees. There are skilled and compassionate bankruptcy lawyers in Iowa who will help you get your life back.