How much does it cost to file bankruptcy? – know about attorney fees

It is hard to determine the filing cost of bankruptcy if you are hiring an attorney. Although attorney option is expensive on the other hand, it is beneficial also. You can say that it is an additional expense along with the filing fees. And because of this many person quiet this option to spend less on this. But here we are going to discuss and see how much does it cost to file bankruptcy when you take the help of an attorney. So, here are things which lead to high Attorney charges:

Higher income & assets

Revenues and assets play a significant role when you are discussing charges with your lawyer. If your income is high them, it is evident that the attorney fee is also high. On the other hand, your property and assets are taken into consideration while filing such case. In it, your pension plan, income source, assets, salary, etc. are counted, and then charges are decided. Also, if you are thinking about fooling your attorney then forget that. You have to tell each and everything to him and have to disclose everything in front of them. So, this is the first case in which higher fees is required.

Complexity of your case

If your attorney is putting lots of efforts in your case, then he will cost you more. Bankruptcy cases are mainly complicated. If your previous business records or personal records are not good, then you are in big trouble. If your numbers of creditors are high in number, you have any police record or a bad credit then there are lots of things which need to be corrected. All these things directly affect the bankruptcy lawyers costs.

Personal issues

Personal issues make your case worse and let your attorney charge you with more money. Such matters can be anything like your separation from your spouse or conflict with other people. Keep in mind that rocky relationships act as a significant barrier and in no time make your case extra complicated. Because of this, you have to go for some legal work which is not a good thing for you. Also, if it is about your business, then again this case become an uphill race for you.

In small words, when your problems are large in number then your attorney charges are also high. So, make sure that your attorney is compatible and should be knowledgeable.  Besides this, here are some of the cases in which attorneys’ reduce their fees:

•    If you are a senior citizen, then you are in benefit.
•    If your income is fixed or you are unemployed then congratulations, the attorney will show kindness to you.
•    Attorney offer discounts for students. So, if you are studying, then you are more likely to any fewer amounts.

So, now you know the things which make your bankruptcy petition expensive. It is good to consider the above points when you are dealing with the attorney. This will help you to know how much does it cost to file bankruptcy?

Leave a Reply

Your email address will not be published. Required fields are marked *