Costs Of Filing Bankruptcy

29 Mar How Much Does Bankruptcy Cost?

Prospective clients often ask me "How do I pay you when I am bankrupt?" The cost of filing bankruptcy, and how you pay your attorney, is a primary concern to virtually everyone who considers bankruptcy. Attorney fees for filing bankruptcy depend on a number of factors--prevailing cost of living where you live, the relative complexity of your financial situation, competition among bankruptcy lawyers in your area, and what kind of bankruptcy you are planning to file. Most bankruptcy lawyers charge attorney fees on a flat fee basis, with the fee designed to cover the work that the attorney anticipates will be necessary in that case. Additional fees may be charged for non-standard work. My practice is to get some preliminary information from a prospective client, so that I have an idea of the amount of work that will be involved in the case, and set a flat fee at that point. That seems to be the prevailing procedure followed by most bankruptcy attorneys practicing in my region. No two cases are alike, and they vary in complexity so much that a one-size-fits-all approach just doesn't work.
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