Bankruptcy attorney fees will vary depending on your geographical location, type of chapter being filed, experience of your attorney, and the complexities of your case. The bankruptcy section that you choose to file under will also depend on whether your debts are consumer, business, or corporate and whether you want to continue operating your business.
Chapter 7 bankruptcy attorney fees are generally in the $500 to $750 for a consumer filing, and much higher for businesses and corporations, again depending upon their size and the complexity of the issues involved. Attorneys in larger geographic areas will also charge more given the market with fees of $2,000 not uncommon.
Consumers can find cut-rate legal fees as low as $99, but they will receive only minimal assistance or legal advice and no representation at the First Meeting of Creditors. Any modifications or complications that arise will have to be dealt with by the consumer or he or she will have to retain counsel.
Chapter 13 bankruptcy attorney fees are typically higher with fees from $750 to $3,000. Attorneys in these cases have to present a financial plan for approval while still providing the information needed in a Chapter 7 case along with exemptions for certain property. Consumers and business owners with personal liability for business debts may use this chapter.
Chapter 11 cases are for corporate restructuring and for those businesses to continue operating while paying back creditors, usually at reduced rates. Fees usually start at $5,000 and attorneys will charge an hourly fee as well.
Low income debtors can find assistance with legal aid or with the help of the local bar association referral services.
Click here to read the full article on Bankruptcy Attorney Fees