Bankruptcy Attorney Fees Need to Be Considered Beforehand

by | Apr 23, 2013 | Law Services

There are two options when it comes to filing for bankruptcy. A person can either file for bankruptcy on his or her own, or they can hire a bankruptcy attorney to file for bankruptcy on their behalf. Hiring an attorney will cost a person more up front but in the end they can often save a person more money on the back end because of their knowledge on the specifics of each individual case of bankruptcies.

Now regardless of which choice is made there is still a standard fee that is charged for all bankruptcy filings. In Arlington, VA, this standard fee is around $300. If a person chooses to file for bankruptcy on his or her own, she still has to pay the $300 fee for filing. If a person chooses to have an attorney file for bankruptcy on their behalf, they will still have to pay the $300 fee.

When a person decides to check into a bankruptcy attorney Arlington, VA, there are basically two different pricing points. The first one is for chapter 7 bankruptcies, and the second one is for chapter 13 bankruptcies. For a chapter 7 bankruptcy, a person can expect to pay around $1,000 to $3,000 to an attorney. For a chapter 12 bankruptcy, a person can expect to pay just a little more. Typically it is around $3,000 to $5,000 that is paid to an attorney.

Additional Charges for Bankruptcy

There are some cases where a bankruptcy attorney in Arlington, VA may charge a little extra in fees. If the bankruptcy case is a little more complex than most bankruptcy cases, then it may cost a person a little more money. Conversely, if the bankruptcy case is very simple, such as a person having to real assets, then there may be even lower fees than the standard rate.

Repayment Plans for Bankruptcy

For chapter 7, there are no repayment plans. The fees are typically all due up front. Now for chapter 13 bankruptcies there may be repayment plans available. Some attorneys will allow their clients to pay a smaller amount up front and then make payments later that come out of their bankruptcy repayment plan. This can help a person smooth out the costs of bankruptcy just a little bit.

When a person is considering hiring a bankruptcy attorney they should always keep one thing in mind. A person should never base their hiring decision that is solely based off of the price. Typically a person will get what they pay for. If a price is ultra low when compare to other attorneys, they will probably not be able to give the person as much attention or may rush through the process.

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