Unfortunately, attorney fees are not standardized, and can range from one lawyer to another and vary even among cities. In short, the cost and lawyer fees in Albany can vary from $40 to $1500 or more per hour.
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But it is designed to educate you on making smart financial choices so that you won’t have to seek bankruptcy relief in the future .
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Bankruptcy exemptions protect the equity in certain property. Property that is exempt cannot be used to pay debts. Therefore, a debtor is permitted to keep all exempt property. If you have more questions about exemptions, check out this article.
Chapter 7 bankruptcy is a very effective tool for erasing credit card bills and medical debt. But you can only be use it once every 8 years.
Finally, there’s an additional step in the bankruptcy process if you own a car with outstanding debt. If you want to surrender the car to the lender, the lender will file a motion with the bankruptcy court to ask permission to retake the car.