A chapter 13 bankruptcy lawyer allows you to restructure your debt and help you get back on your feet, but it can be an expensive process in the long run.
You’ll need to hire a Chapter 13 lawyer, who can help you navigate the process of filing, as well as any required hearings and negotiation sessions with creditors, but just how much does a bankruptcy lawyer cost?
There are several variables that affect the price of legal counsel, so here’s what you need to know before your first meeting with a lawyer.
What Is Chapter 13 Lawyer?
A Chapter 13 bankruptcy lawyer is an attorney who helps individuals file for bankruptcy under Chapter 13 of the United States Bankruptcy Code.
This type of bankruptcy allows individuals to reorganize their debts and repay them over time, usually three to five years. Individuals must show that they have some disposable income each month in order to qualify for this chapter.
The goal of Chapter 13 is not to eliminate debt, but instead keep individuals current on their payments. When it comes to filing for bankruptcy, there are two main types.
Chapter 7 and Chapter 13 are very different and should be considered carefully before deciding which one is right for you.
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Bankruptcy chapter 13 lawyer
A bankruptcy lawyer can help you file for bankruptcy protection and represent you in court. The cost of a bankruptcy lawyer varies depending on the complexity of your case and the lawyer’s experience.
Generally, lawyers charge by the hour, with rates ranging from $100 to $500 per hour. You may also have to pay a retainer fee, which is an upfront fee that covers the lawyer’s time.
For example, if you’re hiring a lawyer for two hours at $200 per hour, then you would need to pay them an initial retainer fee of $400 before they start working on your case.
Additionally, it is important to note that there are additional fees associated with filing or paying late fees or filing amendments.
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What Are The Three Kinds of Lawyers?
The three kinds of lawyers are corporate lawyers, criminal defense lawyers, and civil rights lawyers.
Corporate lawyers work for businesses and help them with things like contracts and mergers. Criminal defense lawyers represent people who have been accused of crimes and help them navigate the legal system.
Civil rights lawyers work to protect the rights of individuals and groups who have been discriminated against.
For example, these lawyers might argue that public schools must provide an equal education for all students regardless of race or socioeconomic status.
Lawyers often specialize in one area of law so they can become experts in that area. There are about 230,000 practicing attorneys in the United States.
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What Is Bankruptcy Law?
If you’re considering filing for bankruptcy, you’re probably wondering how much it will cost. The answer depends on a few factors, including the type of bankruptcy you file, the complexity of your case, and whether you hire an attorney.
For example, if you want to go through a Chapter 7 bankruptcy, which requires less paperwork than other types of bankruptcies and is typically used by people who are just too far in debt to repay their creditors any other way, the average cost can be as low as $1,000.
If you have assets that need to be liquidated or transferred out of your name before you can file for bankruptcy relief (such as cars or property), this process could require more time and could increase the costs significantly.
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What Are The Different Types Of Bankruptcy?
There are different types of bankruptcy that are filed depending on the circumstances. The most common type of bankruptcy is Chapter 7, which is filed when an individual or business can no longer pay their debts.
This type of bankruptcy results in the liquidation of assets to repay creditors. Chapter 11 bankruptcy is typically filed by businesses who need to reorganize their debt in order to stay afloat.
In this type of bankruptcy, a repayment plan is created in order to repay creditors over time. Chapter 12 and Chapter 13 bankruptcies are filed by farmers and fishermen who have suffered from natural disasters or other agricultural problems.
These bankruptcies allow them to keep certain property while repaying their creditors in installments. Finally, there is also Chapter 15 bankruptcy which deals with international issues with regards to cross-border insolvencies.
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Bankruptcy Chapter 13 lawyer Near Me
The cost of a bankruptcy lawyer can vary depending on the type of case and the complexity of your financial situation. For a simple Chapter 7 bankruptcy, you may only need to pay a few hundred dollars.
However, for a more complex Chapter 13 bankruptcy, you may need to pay several thousand dollars. The best way to find out how much you will need to pay is to contact a bankruptcy lawyer near you and ask for a free consultation.
A good lawyer should be able to give you an estimate without even seeing all of your paperwork.
If they are unable to provide a free consultation, then it’s probably not worth hiring them because they likely don’t have enough time or expertise in that area.
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Tampa Chapter 13 Lawyer
Also known as a wage earner’s plan, Chapter 13 of the bankruptcy code enables debtors with a regular income to develop a plan to repay all or part of their debts.
Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.
If the debtor’s current monthly income is less than the applicable state median, the plan will be for three years unless the court approves a longer period for cause.
Regardless of whether you file under Chapter 7 or Chapter 13 your attorney may advise you that filing for bankruptcy can stop foreclosure proceedings and eliminate credit card debt.
Chapter 13 Lawyer Cost
The cost of a bankruptcy lawyer can vary depending on the type of case and the complexity of the matter.
For a simple Chapter 7 bankruptcy, you may only need to pay the lawyer for their time spent preparing your petition and appearing in court with you.
If your case is more complex, such as a Chapter 13, you may need to pay the lawyer for their time spent working on your case, as well as any fees associated with filing and appearing in court.
You will also be responsible for paying other costs, such as those incurred when transferring property or vehicles into the name of your trustee.
With both types of cases, you will have to go through credit counseling before your lawyer can file the paperwork.
Conclusion
In the United States, the average cost of a bankruptcy lawyer is $1,500. However, the total cost of your bankruptcy case will depend on the type of bankruptcy you file, the complexity of your case, and the number of creditors you have.
You may also have to pay additional fees for court costs and filing fees. If you can’t afford to pay a lawyer, you may be able to get free or low-cost legal assistance from a legal aid program.
These programs typically provide legal help in cases such as family law, employment law, public benefits law, criminal defense, immigration law, and civil litigation.
There are also many attorneys who offer their services pro bono or at reduced rates in cases that are deemed to be in the public interest. It’s important to do your research before choosing an attorney because they all vary significantly in terms of experience and success rates.
The best way to make sure you’re getting the right person for your needs is by asking them specific questions about what type of bankruptcy you want to file, how long it will take, and how much it will cost.
Chapter 13 Lawyer FAQs
Why Should I Hire A Bankruptcy Lawyer?
Filing for bankruptcy is a complicated process, and having an experienced lawyer on your side can make all the difference. A bankruptcy lawyer can help you navigate the process, ensure that all of your paperwork is in order, and represent you in court if necessary.Â
How Much Does A Bankruptcy Lawyer Cost?
The answer to this question depends on a few different factors, including the type of bankruptcy you are filing for and the complexity of your case. Generally speaking, you can expect to pay anywhere from $1,000 to $3,000 for a bankruptcy lawyer.
What Is Chapter 13 Filing Fee 2022?
The filing fee for a Chapter 13 bankruptcy is $310. If you are unable to pay the filing fee in full, you may request permission from the court to pay in installments.
The court may also waive the filing fee entirely if you can demonstrate that you are unable to pay. You must complete your petition with an explanation of your inability to pay the filing fee and why it would be unfair to require you to do so.
How Much Does Chapter 13 Cost In Michigan?
The average cost of filing for Chapter 13 bankruptcy in Michigan is $3,200. This includes the filing fee, which is $335, and the cost of hiring an attorney, which is typically around $2,500.
However, the total cost will vary depending on your individual circumstances. If you have a lot of debt, you may need to pay more to your attorney.
