how much is a consultation for a lawyer for bankrupcy

Full Answer

How much does it cost to hire a bankruptcy lawyer?

For instance, costs can be as high as $2,000 for a complicated bankruptcy case, or as low as $500 for a straight-forward filing. The best way to calculate the total cost of hiring a U.S. bankruptcy lawyer is to speak with your prospective attorney about their hourly fees and/or rate structure.

How do I choose a bankruptcy lawyer?

In general, bankruptcy cases typically require a lawyer to charge at a “reasonable” rate. Experience: The experience, skills, and reputation of a lawyer will also factor into the total bill.

Why hire a bankruptcy lawyer?

In addition, a bankruptcy attorney can provide legal representation for a client during bankruptcy court hearings, a client’s 341 meeting of the creditors, and/or any other proceedings or conferences related to a bankruptcy case. What are the Advantages of Hiring a Bankruptcy Lawyer?

Do I need a bankruptcy lawyer or go pro se?

You can file the case without legal help, known as going pro se, but experts typically recommend relying on a bankruptcy lawyer to handle your case. Here’s how to decide if you need a bankruptcy lawyer and what to expect whether you hire an attorney or go pro se.

Should you seek legal advice when filing for bankruptcy?

Individuals can file bankruptcy without an attorney, which is called filing pro se. However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes.

What does a bankruptcy consultant do?

A bankruptcy lawyer specializes in giving legal advice to a client about bankruptcy, prepares legal documents for the client and represents the client in court. An attorney must hold a law degree and be licensed in the state where they do business.

Who pays the cost of bankruptcy?

So Who Actually Pays for Bankruptcies? The person who files for bankruptcy is typically the one that pays the court filing fee, which partially funds the court system and related aspects of bankruptcy cases. Individuals who earn less than 150% of the federal poverty guidelines can ask to have the fee waived.

What are the differences between Chapter 7 and Chapter 13 bankruptcy?

With Chapter 7, those types of debts are wiped out with your filing's court approval, which can take a few months. Under Chapter 13, you need to continue making payments on those balances throughout your court-instructed repayment plan; afterwards, the unsecured debts may be discharged.

What is a bankruptcy attorney office?

A bankruptcy attorney is a lawyer that specializes in the bankruptcy process, having knowledge about the various types of bankruptcy, filing the required documents with the court, and issues with creditors. Most bankruptcy lawyers handle either consumer (personal) bankruptcy, or commercial (business) bankruptcy.

How much do you pay monthly for bankruptcies?

Monthly Payments If the family income is greater than the amount on the Standards, the bankrupt is required to pay 50% of the EXCESS. For example, if you earned $400 more each month than the Standards indicate is necessary, you would be required to pay 50% or that, or $200 per month.

What bankruptcy clears all debt?

Chapter 7 bankruptcy is a legal debt relief tool. If you've fallen on hard times and are struggling to keep up with your debt, filing Chapter 7 can give you a fresh start. For most, this means the bankruptcy discharge wipes out all of their debt.

What happens to your debts if you file for bankruptcy?

Chapter 7 Bankruptcy Money from the sale goes toward paying your creditors. The balance of what you owe is eliminated after the bankruptcy is discharged. Chapter 7 bankruptcy can't get you out of certain kinds of debts. You'll still have to pay court-ordered alimony and child support, taxes, and student loans.

What does it mean to bill a bankruptcy lawyer?

This means that a client will have a general idea of how much a bankruptcy lawyer’s services will cost. It also means that the client will likely need to pay a portion of the flat fee upfront. Alternatively, a bankruptcy lawyer may decide to bill at an hourly rate instead. As the phrase implies, it means that a client will be charged ...

Why do you need a bankruptcy lawyer?

There are numerous advantages to hiring a bankruptcy lawyer when filing a petition for bankruptcy . Some of those advantages may include the following: Having a legal professional present to ask questions about a case and to explain various bankruptcy laws or requirements;

What is the purpose of bankruptcy?

The primary goal of bankruptcy is to restructure and manage a person’s overwhelming debts. In some cases, such as those for Chapter 7 bankruptcy, the purpose may shift to partially reducing or entirely eliminating such debts. Bankruptcy attorneys can provide a wide range of legal services to help their clients achieve these goals. Some examples of what a bankruptcy attorney does on a regular basis can include: 1 Ensuring that the client understands what bankruptcy is, how filing for bankruptcy will personally affect them and/or their business, and that they know what their legal obligations are if their petition for bankruptcy is approved by the court. 2 Making sure that the client complies with all the laws and procedural requirements associated with the bankruptcy process, such as attending the mandatory credit counseling courses and the 341 meeting of the creditors. 3 Gathering, drafting, and reviewing all documents and any evidence pertaining to the bankruptcy matter. 4 Offering legal counsel on any questions or concerns that a client has prior to, during, and/or after the bankruptcy petition is filed. 5 Explaining the rights and protections that a client has under the relevant bankruptcy laws. 6 Assisting the client with further bankruptcy issues, such as resolving disputes with creditors, converting their case to a different chapter of bankruptcy if necessary, and stopping creditors from harassing them after they declare bankruptcy.

What does "reasonable" mean in bankruptcy?

As the phrase implies, it means that a client will be charged for how much work a bankruptcy lawyer did on their case per hour. In general, bankruptcy cases typically require a lawyer to charge at a “reasonable” rate. Experience: The experience, skills, and reputation of a lawyer will also factor into the total bill.

What expenses should be included in a bankruptcy filing?

Expenses related to administrative tasks, such as photocopying, printing the filing forms for court, and the cost of mailing such forms. In addition, a debtor should also incorporate the expenses associated with a further dispute or issue related to a bankruptcy case.

How does time spent on bankruptcy work?

Time spent to resolve the bankruptcy case: The time that a law firm or lawyer spends on a bankruptcy case ties directly in with the factor of the difficulty of a bankruptcy case. Typically, the more complicated the bankruptcy case, the more time that a lawyer or law firm will need to work on it to settle the matter.

Is filing a bankruptcy 11 more expensive than filing a 7?

The bankruptcy chapter: On average, filing a petition to initiate a Chapter 11 bankruptcy case is usually more expensive than the cost of filing a petition for a Chapter 7 or Chapter 13 bankruptcy. Difficulty of the bankruptcy case: The complexity of the issues in a bankruptcy case will likely affect the overall cost as well.

What is the means test for bankruptcy?

Under the means test, filers who have the ability to repay creditors cannot file for Chapter 7 bankruptcy. The means test determines how much the debtor can repay the creditors based on their income and other assets.

What is a payment plan in bankruptcy?

A payment plan means the debtor will pay off a certain amount of debt each month depending on how much the assets are worth and what the court decides.

What is Chapter 13 bankruptcy?

Below is a more detailed explanation of chapter 13 bankruptcy. Chapter 13- Chapter 13 bankruptcy is the restructured or reorganization form of bankruptcy. This option is typically for people who have higher incomes, or are not eligible for chapter 7 bankruptcy. In most cases, chapter 13 bankruptcy is for those that have certain assets they want ...

What is the purpose of bankruptcy?

The goal of bankruptcy is to allow debtors to restructure their debt agreements, reduce the amount they are owed, or in some cases, eliminate part or all their debt altogether.

Is bankruptcy a clean slate?

However, while bankruptcy can represent a clean slate to someone struggling to meet their debt obligations, bankruptcy can be an expensive and long process with many different payment variables. Below is a detailed explanation of this process and the fees and costs associated with it.

Do urban law firms charge more for bankruptcy?

Some larger urban law firms may charge more based on the average rate for other bankruptcy cases in that same area. Because of the difference in application and subject matter whether a client files for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy may affect the fee structure.

Can you file for bankruptcy if you have extra income?

On certain occasions if the debtor has extra income a month after paying creditors, the filer will fail the means test and will not qualify for a chapter 7 bankruptcy. If a debtor is not eligible for a chapter 7 bankruptcy a debtor can file a chapter 13 bankruptcy, which restructures the debt into a payment plan.

How Much Does It Cost to Talk to a Lawyer?

A lawyer's time is very valuable whether they are working on a case, meeting with clients, or involved in negotiations. For this reason, lawyers have the option to charge current clients and potential clients a fee to have a meeting.

Typical Lawyer Consultation Fee Structures

Depending on the specific legal issue and the type of law, attorneys may offer potential clients a free consultation. Free consultations are most common in personal injury law and criminal law.

Factors that Impact Lawyer Costs

There are several factors that will impact how much a lawyer charges for a consultation and for future legal services if hired. Three substantial factors include the type of work or type of law practiced, the attorney's experience level, and the amount of work or what is to be discussed at the consultation.

What Are Typical Lawyer Hourly Fees?

Lawyer fees for a consultation vary throughout the United States. On average, consultation costs will range from about $250 an hour to $350 an hour. Rates will change depending on location, type of law, and attorney experience.

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How Much Does A Bankruptcy Attorney Cost

The role of an attorney in a Chapter 13 bankruptcy is significantly more involved than his role played in a Chapter 7 bankruptcy.

Cost of a Chapter 13 Bankruptcy Attorney – How Much Does a Bankruptcy Attorney Cost?

The cost of a Chapter 13 bankruptcy attorney varies geographically, but the typical fee is between $2200 and $3200 for the 3-5 years that the attorney will be representing you.

How long is a bankruptcy consultation?

The initial bankruptcy consultation is a first meeting, usually lasting between 30-60 minutes, in which your bankruptcy attorney gets a feel for the financial issues you are confronting and how best to address them. A good bankruptcy attorney will not try to “steer” you in the direction of bankruptcy, and the meeting may very well end ...

What is the number one rule of bankruptcy?

LAWYER: Correct, but remember, the number-one rule of bankruptcy is full disclosure. As long as you lay all your cards on the table, you should have no issues. If you attempt to hide assets, the trustee can really rain down a storm on you that has potential criminal implications.

What is the job of a bankruptcy trustee?

The trustee’s job is essentially to hunt for equity you have in property to determine whether there is anything to sell off to satisfy some of your creditors’ claims. Only what is called non-exempt equity is subject to sale.

Can you file for bankruptcy if your credit is damaged?

With damaged credit already a reality, the reasons not to file bankruptcy begin to diminish. In fact, bankruptcy can be the start of a new day for your credit score as your debt-to-income ratio is one of the biggest factors lenders look at to gauge your creditworthiness.

Is the process of bankruptcy uniform?

The process is not uniform. Some offices will provide a questionnaire and list of required paperwork prior to the consultation; others will hand it out when you arrive. In either event, be prepared for some document collection as consumer bankruptcy post- BACPA has become quite detailed in its production requirements.

Can a bank foreclose on a home?

The bank will still foreclose on your property to clear title out of your name so that a third party can purchase the home, but no deficiency judgment will arise. Furthermore, debts forgiven in bankruptcy are not taxable events so you won’t receive a 1099 for the amount of forgiven debt.

Can you surrender a home in Chapter 13 bankruptcy?

Unlike chapter 7, chapter 13 bankruptcy also allows debtors to keep non-exempt assets that would otherwise be subject to liquidation. In both cases, you would be able to surrender a home that you can no longer afford. Based on what you’ve told me about your recent income, I think chapter 7 is likely the best option.

Bankruptcy Can Be a Difficult Time for You

Fortunately, bankruptcy lawyers understand what a difficult and emotional time this can be for clients. They know that many bankruptcies are often caused by circumstances beyond your control, like a job loss or downsizing, major medical issues, divorce, or other sudden changes in your financial picture.

What to Expect at a Consultation with a Bankruptcy Attorney

At the Law Office of David A. Bhaerman, we typically set aside 60-90 minutes for the initial consultation with a potential client. We ask you general questions about your debt, your income, and any assets you may have to help build a financial picture of your situation.

How to Prepare for the Initial Bankruptcy Consultation

During the initial consultation, it’s important that you provide as much accurate information as possible, so that we may properly assess your situation.

The Best Way to Contact a Bankruptcy Attorney

An initial consultation with a bankruptcy lawyer doesn’t mean you’ll automatically file bankruptcy. It’s important to communicate your situation with us, with as much detail and completeness as possible so we may help you make the right decision on whether or not to file bankruptcy. The Law Office of David A.

Bankruptcy Attorney Near You

Of course, there are many more reasons to hire a qualified, experienced bankruptcy attorney to help you navigate the murky financial waters of a personal bankruptcy case. These ten reasons are pretty compelling, especially if you’ve never handled anything like this yourself.

What do I need to bring to a bankruptcy consultation?

Preparing for a bankruptcy consultation, no matter if you’re within the Southern District of California Department of Justice, or within another place of jurisdiction, mostly boils down to preparing the same important documentation to bring to your initial consultation:

What else can I do to prepare for a bankruptcy consultation?

Now, besides preparing all of the documentation that is extremely important for your case and which allows your bankruptcy attorney to have the perfect insight into your financial troubles, there are two other things you can do in order to prepare for a consultation with your bankruptcy attorney: