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What is Bankruptcy?

When some people hear the word Bankruptcy they think of some scheme to get out of debt. This is simply not true. Bankruptcy is mentioned in the constitution and the power to develop a system of bankruptcy was delegated to the legislature. Our country has gone through many different systems of bankruptcy, but all have had the same two goals:

  1. Provide a fresh start for people who find themselves saddled with debt
  2. Ensure that creditors receive a fair and equal share of available resources.

Although the system is designed on a federal level, the Supreme Court determine that state’s law will dictate what property is subject to bankruptcy proceedings. This creates a very complicated system making a knowledgeable attorney very important. Our attorneys have been involved in thousands of bankruptcies over the years representing individuals, businesses, and creditors in a variety of roles within bankruptcy cases. Our experience gives us the knowledge to answer your questions immediately. Call us today if you think you might need to file bankruptcy, or if you have received any notice from the bankruptcy court about a case.

How much does Bankruptcy cost?

Like many questions with lawyers the answer here is that it depends and there is a range of costs. To start, every case has a filing fee. Chapter 7 is $335, Chapter 13 is $310, and Chapter 11 is $1,717. That money is required to be paid to the bankruptcy court to start your case. Next, there are other costs associated with bankruptcy. If you are filing as an individual, you are required to take a couple of courses online. If you are filing a Chapter 11, you are required to pay quarterly trustee fees. Speak to one of our experienced bankruptcy lawyers to make sure you are aware of all the costs associated with your case.

Apart from the costs of the case, you will also pay your attorney fees for their service. Bankruptcy law is complicated and there are many pitfalls in the bankruptcy code. The timing of filing, the accuracy of your filing, and the law you claim to protect your property can make an enormous difference in what, if anything, you have to turnover to the trustee or pay your creditors. With Bankruptcy lawyers your definitely get what you pay for. A cheap attorney, or going it alone, may end up costing you thousands later. Our attorneys are frequently asked to step into cases where the previous attorney or pro se client created more problems then they got rid of, often costing the client significant money.

We give each of our cases an custom consultation so we understand the issues in the case. We help our client appropriately plan for the bankruptcy to limit the future affect, and we quote custom rates that depend on each individual case.

Just because we feel that you getting the best service and representation for bankruptcy does not mean that our prices are higher! We offer low down options and payment plans because we know times are tough if you are looking at bankruptcy. We also offer discounts to veterans, members of the armed forces, and for single parents.

For more information on our Bankruptcy practice, click the links below: