Abdul Muhammed Law Practice
How much does it cost to hire a lawyer to defend against AMCON?
At Abdul Muhammed Law Practice, our approach to setting fees for defending debtors against excessive debt claims by AMCON involves a two-pronged strategy. Following a free initial consultation with no obligations, if the client decides to proceed, a deposit ranging from 6 million Naira to 3 million Naira is often required. This deposit facilitates a thorough examination of the case, document review, assistance in document acquisition, strategy formulation and more. Importantly, this payment is not the final fee but is offset against the overall charges. Once initial involvement is underway, the final fees for the engagement can be determined.
It’s crucial to note that we do not charge based on a per-case basis but view it as a broader dilemma that may require resolution through multiple cases, as the situation demands. Furthermore, our fee structures may vary, encompassing hourly rates, flat fees, contingency fees (a percentage of the saved sum), or a combination of these, providing flexibility to accommodate different client needs and case complexities.
Introduction
Dealing with creditors like the Asset Management Corporation of Nigeria (AMCON) can be a daunting experience.
In Nigeria, where creditors employ various strategies for debt recovery, individuals and businesses must be well-prepared to defend themselves fairly and to safeguard their assets.
This article delves into the strategies employed by AMCON and provides insights into the associated legal challenges, including the pertinent question: How much does it cost to hire a lawyer to defend against AMCON?
Lawyer fees cannot be avoided
Facing AMCON actions necessitates legal expertise and the cost of hiring a lawyer for defense can vary based on factors such as are discussed below.
Status of the case
The case’s status is closely tied to when the client engages a lawyer. Whether a creditor is issuing threats or if AMCON has already seized your property, the specific circumstances presented to the lawyer can impact the associated fees.
Amount claimed by AMCON
The lawyer’s fees can be influenced by the amount AMCON is claiming against the debtor. fees.
Complexity of the case
The intricacy of AMCON claims and legal proceedings.
Experience of the lawyer
Seasoned lawyers with expertise in debt defense may charge higher fees.
Negotiation and settlement
If the lawyer successfully negotiates a settlement, fees may be structured accordingly.
Different strokes for different folks
While exact figures may differ, individuals and businesses should be prepared to invest in professional legal representation to effectively navigate AMCON challenges.
Conclusion
Navigating defenses against AMCON claims requires a strategic and well-informed approach.
For individuals and businesses facing AMCON actions, hiring a lawyer for defense is a prudent step.
While costs or professional fees may vary, the investment in legal representation can significantly impact the outcome, safeguarding assets and ensuring a more favorable resolution.
Engaging with legal experts, understanding rights as debtors and exploring alternative methods of resolution empower individuals and businesses to protect their interests during challenging financial times.
Defending against excessive debt claims by AMCON
READ: Excessive AMCON debt claims: What to expect at your free initial consultation
