Chapter 13
A Chapter 13 Bankruptcy does not liquidate your estate, instead it allows individuals to reorganize their debt so they can avoid a Chapter 7 Bankruptcy. In order to qualify the individual most have less than $250,000.00 unsecured debt and less than $750,000.00 secured debt. While this process allows you to restructure your debt, you must be able to show regular income to be able to pay the restructured debt and the debt must be paid off within a five year period of time.
In most bankruptcy cases we will represent you in your bankruptcy at a flat rate so that you do not have to worry as to what the cost of your bankruptcy might be. The amount of the flat fee will depend on the complexity of your specific case. Attorney fees for an individual non-adversarial Chapter 13 Reorganization start at $4,500.00. To date, the vast majority of the bankruptcies that we have been involved were billed at our lowest flat fee rate. Additional costs, over and above attorney fees, will be incurred.
Prior to representing you we will provide you with a written retainer that will spell out the costs of your case. If you have questions regarding the cost or any other part of the retainer, do not hesitate to talk to you attorney. In all bankruptcy filings there will also be costs incurred over and above your attorney fees.