Bankruptcy Costs Vary

When filing bankruptcy costs vary but you get what you pay for. The attorneys fees and costs for Chapter 7 bankruptcy, Chapter 11 bankruptcy and Chapter 13 bankruptcy can vary as much as each individual case. Winter Park bankruptcy attorneys Eric Lanigan and Roddy Lanigan have set fees with incremental costs spelled out completely in the contracts.

For example, if an asset requires additional review due to your leaving information out or not reporting the information honestly, an attorney may charge you additionally.

The question to ask first is whether you should hire the best bankruptcy attorney for your case or whether you should worry about the cost. If you go into bankruptcy with a complex case but the idea that you will only hire the cheapest attorney, you’ll have mixed results.

The priority should be hire an experienced, qualified bankruptcy attorney and be willing to pay for the quality. You get what you pay for.

The cost of filing for consumer or commercial debt protection is not cheap; and anyone who has ever been involved in legal proceedings knows that lawyers bill hourly. Clients pay for knowledge, experience and the ability to finely craft a persuasive argument and build a case in favor of the debtor.

Without adequate legal counsel, harassing debt-collection tactics would continue; wage garnishments and repossessions would persist; and interest rates, late fees, and penalties would continue to mount. Debtors depend on sound, competent legal expertise to get relief from the overwhelming pressures of personal and business indebtedness. The bankruptcy lawyer price is just another bullet debtors must bite in order to eventually secure debt freedom.

In addition to paying court-imposed filing fees, debtors have to pay attorneys for providing legal representation. Time is money and personal insolvency proceedings can either be relatively simple or involve exhaustive research and consultations. Attorneys usually adjust fees according to the case’s complexity.

Most lawyers know that clients are short on cash and are willing to work out reasonable payment arrangements for legal fees. Flat rates range from $1,500 for personal petitions.

Chapter 7 Bankruptcy legal fees usually run in the $1,500 to $2,500 range. Chapter 13 Bankruptcy legal fees cost approximately $2,500 to $3,500 range. The bankruptcy lawyer price for issuing notices to creditors to immediately cease collection proceedings may be charged separately for a minimal fee usually around $150.

Chapter 13 petitioners’ repayment plans can be modified to incorporate legal fees and trustee fees, paid from the wage earner’s regular income. In the case of commercial proceedings, bankruptcy lawyer prices can range from $10,000 to $175,000 and up and can involve an entire team of legal counselors, paralegals, and assistants.

Standard court filing fees for most states are around $300 for Chapter 7 bankruptcy and Chapter 13 bankruptcy, and higher for Chapter 11 bankruptcy. Before considering bankruptcy, debtors should seriously consider if consumer debt protection is an affordable option.