There is no set price when determining the cost of bankruptcy. A bankruptcy attorney calculates an estimated cost after obtaining information and determining the complexity of your case. Some information that the bankruptcy attorney will require is: the type of bankruptcy being filed, they types of creditors involved, the number of creditors involved, and what kind of assets and income are involved. This information will allow the bankruptcy attorney to evaluate any potential issues that may arise in the bankruptcy process.
Although it is not required to obtain a bankruptcy attorney, it is highly recommended that you do so, in order to protect your assets and to ensure a smooth bankruptcy process. When hiring an attorney, you are paying for their experience and expertise in the field. The costs of bankruptcy attorneys may differ depending on whether the attorneys will handle the cases personally or delegate the work to their secretary or paralegal. When bankruptcy attorneys are estimating extremely low fees, it can be assumed that most likely they are delegating their work.
In addition to attorney experience and services, the cost of bankruptcy also includes the administrative and filing fees charged by the bankruptcy courts. As of November 1, 2011, the bankruptcy court as the following fees:
- Chapter 7: $306
- Chapter 11: $1046
- Chapter 13: $281
If you would like more information or an estimate of the cost of your bankruptcy case, contact an Orange County Bankruptcy Lawyer at 1st California Law for a free attorney consultation!