A bankruptcy mill, or bankruptcy factory, is a lawyer or law firm that treats clients like commodities. Imagine a flour mill. Wheat comes in, it all goes through the same grinder, the same processes and it all comes out as flour. The objective of a flour mill is to turn as much wheat into as much flour in the shortest time as is possible.
It’s the same way with a bankruptcy mill. Clients come in, they go through the same process and they come out with a discharge. The objective is to process as many debtors in the shortest time as is possible.
The problem is, clients aren’t like wheat. Each client is an individual with individual problems. Sometimes those problems can be solved through the same process as everyone else, but often they can’t. When one of those irregular clients comes in, the mill tends to break down. Bankruptcy mills aren’t set up to provide personalized attention. That’s why the quoted fees at bankruptcy mills are low. It’s the economy of scale.
You might have an absolutely routine, run-of-the mill case. If so, the bankruptcy mill might be suitable for you. Or, you might not. The problem is, until the lawyer looks over your case, and sometimes not even until the lawyer is well into the case, it isn’t always apparent which kind of case yours is. Do you really want to trust your financial future to the low bidder?
If you have bankruptcy questions, contact us here.
We won’t put you through the grinder.