Many debtors considering bankruptcy know they need a bankruptcy attorney; but they are afraid of what it will cost and of course how they will pay the fees. If you're considering filing for bankruptcy and are worrying about how you will pay bankruptcy attorney fees, you're not alone.
To take away the mystery of bankruptcy attorney fees, let's take a look a number of factors that will determine the cost of your bankruptcy attorney fees:
- The complexity of your bankruptcy case.
- The amount of time the bankruptcy attorney will be required to devote to the case.
- Whether you are filing a Chapter 7 or Chapter 13 bankruptcy.
- The amount of assets involved in the case.
And those are just a few of the determining factor. That's why there is no one-size fits all for bankruptcy attorney fees. The cost for filing a bankruptcy involving $1 million in assets will not cost the same as filing a bankruptcy for $30,000 in assets.
The only way that a bankruptcy attorney can give a debtor an accurate fee quote is to sit down and discuss the bankruptcy case with the debtor. After discussing the bankruptcy case with the debtor, the bankruptcy attorney can discuss what assets can be used to pay the fees and other payment options that may be available.
Many debtors view bankruptcy attorney fees as just another bill; but that's a huge mistake in perception. The fees paid for a bankruptcy attorney is an investment in your financial future.