There's an old stereotype of the lawyer who 'chases' ambulances in the hopes of landing 'easy' cases for making a quick buck. Unfortunately, the stereotype has a basis in fact - there are a growing number of marginally qualified lawyers, and even some scam artists, who will gladly take your money without providing a comparable level of service. The end result can often be worse than where you started.
Sometimes I get asked, "How can I know if it is a good idea to file for bankruptcy? The first thing I tell them is that bankruptcy isn't for everyone, but there are some circumstances where bankruptcy does make sense. I've known people who have chosen to file bankruptcy for the following reasons:
People contact me from time to time and say that they've explored the matter and think bankruptcy would be in their best interest, but they are concerned with how filing for bankruptcy will affect their ability to get new loans in the years to come. My response is to that great, and very important, question is that it can take you as few as 3 years if you do it the right way.
People oftentimes wonder what will happen to their property if they file for bankruptcy. They want to know, "Will I lose everything?" What will happen to my wedding ring, my house and my car? You'll be pleased to know that, depending upon your circumstances, a bankruptcy lawyer can help you to keep much, if not all, of your property.