how much does a bankruptcy lawyer cost in nj

How much do lawyers charge for Chapter 13 bankruptcy in New Jersey?

Mar 23, 2021 · These fees generally have to be paid in full at the time of the filing of the bankruptcy case. Currently, these fees are $313.00 for a Chapter 7 case, $383.00 for a Chapter 13 case, and $1,738.00 for a Chapter 11 case. Experienced bankruptcy attorneys pay these fees electronically at the time of the filing of the petition.

How much does a family lawyer cost in New Jersey?

Jul 17, 2013 · The briefing costs vary and the average cost per person is approximately $50. Typically, an attorney is required to obtain a credit report for each person. If the client does not provide the report, the attorney must be reimbursed for these costs. A credit report costs approximately $20 per person.

How do I pay my bankruptcy lawyer’s flat fee?

Aug 01, 2013 · In addition to attorney’s fees for filing your case, there are Court costs typically around $325 which are due on filing. In some cases, if you apply and the Court agrees, you may be able to pay the Court cost in four payments or even get the fee waived. Click here to see our latest payment plans. No Hidden Fees.

How long does it take to file bankruptcy in New Jersey?

It depends on your unique circumstances, but to give a rough guideline: Chapter 7 — In the vast majority of cases, the Chapter 7 process lasts three to four months. After partnering with an attorney who will file with bankruptcy court, a trustee will liquidate nonexempt assets and impose the automatic stay.

How much does it cost to file Chapter 13 bankruptcy NJ?

In the state of New Jersey, the initial filing fee for a Chapter 7 Bankruptcy is $335, while the initial filing fee for a Chapter 13 Bankruptcy is $310.Nov 17, 2020

How much does Chapter 7 cost in NJ?

Court FeesItemFeeChapter 7 Petition$338.00Chapter 9 Petition$1738.00Chapter 11 Petition - Non-Railroad$1738.00Chapter 11 Petition - Railroad$1571.0037 more rows

What are the services required to file for bankruptcy?

In considering the cost of filing bankruptcy, individual and business debtors frequently require the services of professionals to assist in their liquidation or reorganization. The most common types of professionals retained by debtors are accountants, appraisers, auctioneers, brokers, and special counsel. In a reorganization bankruptcy, such as Chapter 11 and Chapter 13, the bankruptcy court must pre-authorize a debtor’s retention of these professionals. In addition, before these professionals are paid by a debtor, the bankruptcy court must approve the professional’s fees through a process called a fee application.

Why is filing for bankruptcy important?

Filing bankruptcy is an important step for many businesses and individuals struggling with debt, law suits, foreclosures, and other issues that “trigger” their need for financial relief. For the majority of businesses and people that file bankruptcy, the debt relief they obtain in bankruptcy vastly outweighs the cost of filing bankruptcy. This is especially true where bankruptcy may be the only thing standing between a person/business and foreclosure on their real property, repossession of their car, or a turnover of their levied bank account funds.

Chapter 7 Bankruptcy in New Jersey

For most people, Chapter 7 Bankruptcy is the quickest, easiest, and most cost-effective choice. If you don’t own a home and don’t have too much income, Chapter 7 may be right for you. There is a range of fees, and payment plans are available as well. Click here to see our latest payment plans.

Chapter 13 Bankruptcy in New Jersey

Chapter 13 Bankruptcy is a re-payment plan or re-organization of your debts. If you have above-average income or equity in a home, Chapter 13 may be right for you. Chapter 13 Bankruptcy cases are more complex than typical Chapter 7 Bankruptcy cases therefore the fees are little more costly.

Payment Plans Make Chapter 13 Bankruptcies Easier

Most people who need to file for bankruptcy don’t have the money it takes to pay the fees and costs associated with filing. Payment plans are usually the answer. We do convenient monthly and bi-weekly payment plans, that fit your budget, to make paying for bankruptcy a little easier. Click here to see our latest payment plans.

Court Costs

In addition to attorney’s fees for filing your case, there are Court costs typically around $325 which are due on filing. In some cases, if you apply and the Court agrees, you may be able to pay the Court cost in four payments or even get the fee waived. Click here to see our latest payment plans.

How Do I Come Up With The Money To Pay For The Cost To File Bankruptcy In New Jersey?

The Cost To FIle Bankruptcy In New Jersey can be daunting. Many people can stop paying their credit cards once they have made the decision to file bankruptcy. This often frees-up enough money to make payments for the attorney fee and Court costs. Other people have to rely on friends or family to give them the money.

Payment Plans

Check out our payment plans by clicking the box below. Bankruptcy hits at the least opportune times – usually when you don’t have the money to pay the legal fee and maybe when a wage garnishment, car repo, or sheriff sale is imminent. Payment plans are the answer. Click here to see our latest payment plans.

What happens if you file for bankruptcy in New Jersey?

You should also be aware of the cost of bankruptcy itself. If you file under Chapter 7, the trustee will take control of your non-exempt assets and sell them. As a practical matter, most of our clients don't lose any of their property in chapter 7 because it's all exempt. The proceeds go to your creditors. New Jersey offers no exemption for a homestead and only $2,000 total of other exemptions. N.J.S.A. 2A:26-4. That means the trustee can go after property you own that has substantial equity. That seems overwhelming, but you’ll still come out debt-free on the other side. You may also opt for the federal exemption scheme, which protects up to $22,000 of equity in your home and varying amounts for other assets. 11 U.S.C.A. § 522. The federal exemptions will likely protect more of your property than the New Jersey exemptions, but you should discuss your options with your bankruptcy attorney to make sure you protect what’s most important to you. When the trustee has disposed of your non-exempt assets, your remaining debt will be forgiven. If you file for Chapter 13, you probably won’t have to give up any of your assets. You’ll calculate your income and your living expenses and you’ll pay the remainder to your unsecured creditors. At the end of the bankruptcy process, your remaining unsecured loans will be discharged. Remember that certain debts, such as student loans, can’t be discharged through bankruptcy.

Is bankruptcy free in New Jersey?

Filing for bankruptcy isn’t free, but it’s better than having creditors breathing down your neck. Without the protection of bankruptcy, creditors can get judgments against you and levy your bank accounts, seize your property, place liens on your home, and garnish your wages. If you’re a low-income debtor, you may qualify for free legal help from the state of New Jersey. For more information and to see if you qualify, check out Legal Services of New Jersey. If you’re interesting in learning more about bankruptcy or if you’ve decided to file, check out our other bankruptcy-related content and reach out to one of our experienced bankruptcy attorneys. Image credit

Is it bad to file for bankruptcy without an attorney?

Filing pro se, or without the help of an attorney, is usually bad news for your bankruptcy case. Filing for bankruptcy requires a lot of technical knowledge even if everything goes perfectly smoothly – and it almost never will. You’ll have to file all the documents, correctly filled out and on time, you’ll need to be certain that you’re filing under the right chapter, and you’ll be responsible for preparing official answers to creditors’ complaints. It’s a lot of work and a small mistake can make a big difference in your case. Your case may even be dismissed because of an error. An experienced bankruptcy attorney has dealt with thousands of cases like yours and knows all the ins and outs of the system. She can make sure you have all your paperwork, she knows how to stand up to creditors and the trustee, and she can make sure you get the most out of your bankruptcy. Of course, an attorney isn’t free. What does it cost to hire a bankruptcy attorney? The answer depends on the attorney. You’ll have to pay reasonable compensation for the time the attorney spends on your case. If your case is routine, that won’t be as much. Your attorney will consult with you about your needs and options, fill in and file your paperwork, and represent you in front of the bankruptcy court. If adversary proceedings or a mountain of objections complicate the proceedings, the bill will be higher. Perhaps the trustee objects to your discharge or a creditor believes you have listed the wrong kind of debt or debt in the wrong amount. That sort of fight can take time and a significant amount of legal expertise. You’ll be glad to have a lawyer – you won’t be able to manage a legal battle on your own. On the other hand, that sort of legal work costs more than a simple bankruptcy filing. When you retain a bankruptcy attorney, you’ll pay just one bill to the attorney. They’ll handle the payment of the individual court fees to make sure payment is timely and in the correct amount.