What is the Flat Fee for a Bankruptcy Attorney in New York City?
What is the Flat Fee for a Bankruptcy Attorney in New York City?
Attorney fees for filing a bankruptcy case vary in New York City, and each bankruptcy case is unique. Many clients will want a flat fee for their bankruptcy, while others will pay their attorney fees by the hour. Some bankruptcy filings are relatively straight forward for an attorney. Others are very complicated. Because the requirements for each bankruptcy case are different it is hard for an attorney to quote a flat rate before having a one on one bankruptcy consultation with the client. After the consultation your attorney will likely quote a flat rate for your bankruptcy or inform you of an hourly rate and approximate number of hours needed. With a typical Chapter 7 case one up front legal fee will handle the entire case. Many quality debt relief law firms in New York City will offer a flat rate as well as a reasonable payment plan if necessary to help pay for your bankruptcy.
After a free consultation a client can usually get started with our law firm for as little as $500 and sometimes even less. The remainder is based on the individual requirements of your case. With the upfront payment we will immediately start taking your creditors calls and start preparing your case to be filed. We may even be able to file the case, but a typical Chapter 7 client in our office will pay over $1,000. Some larger consumer bankruptcy firms may charge over $10,000 for the same case. Bankruptcy attorney fees are monitored by the office of the US Trustee, but it is still wise to work with an attorney that can give your case the same attention for less cost. Finding the right attorney will make a difference in what you pay for your bankruptcy whether you make a flat payment or pay by the hour.
The important thing to remember is that even though you are paying for an attorney now, in the long run your financial situation will be dramatically improved through the discharge or vast reduction of your debts. A Chapter 7 discharge will wipe out all of your toxic unsecured debt. For many of our clients this could mean the elimination of well over $100,000 in credit card, medical, and personal loan debt. If you need to file Chapter 13 you might end up paying as little as 5% of what you owe your creditors in unsecured debt if you are working with the right lawyer. This fresh start from your debt is certainly worth the upfront attorney fees needed to file your case successfully.
It’s understandable that if you are in serious debt trouble and in need of bankruptcy relief you may not have a lot of money to pay for an attorney. Nevertheless, you should speak to an attorney about your options. There are many ways to pay for your legal fees and you will start feeling some instant relief from your debt trouble the moment you start working with a quality law firm. If you live in New York City please contact the Law Offices of William Waldner online or at 212.244.2882 to arrange a free bankruptcy consultation today. We maintain a 99% Chapter 7 discharge record in New York City as of 9/31/16, and our clients keep their homes, cars and valuable assets if they decide to file.
This article is intended for educational purposes only. By reading this no attorney-client privilege has been created.