People in the United States most often file for bankruptcy under Chapters 7 and 13 of the Bankruptcy Code. The fees for Chapter 7 and Chapter 13 filings are $299.00 and $274.00. Occasionally, the U.S. Bankruptcy Court waives or defers the Chapter 7 filing fee for low-income borrowers. It may also be paid in installments over time, generally with a $50.00 minimum initial payment. A good Bankruptcy Attorney Miami should be consulted immediately. Let’s dive more into this!
Understanding The Cost of Bankruptcy In Miami
Bankruptcy Attorney Miami explains law costs for Chapter 7 consumer bankruptcies are lower than those for other types of legal labor. In 2011, a bankruptcy court in Orlando, Florida, issued a Memorandum Opinion on the market for Chapter 7 bankruptcy Miami attorney fees in central Florida. Chapter 7 bankruptcy filings in central Florida typically cost between $1,500 to $2,500 in legal charges or fees and other expenses, according to the bankruptcy court’s and Bankruptcy Attorney Miami FL’s estimate. According to the court, attorneys who charge fees in this category often meet with their clients. However, paralegals are still needed to complete the appropriate pleadings, keep in touch with clients, and keep track of the specifics of a bankruptcy case.
Generally speaking, Chapter 13 bankruptcy cases are more complex, resulting in more extraordinary legal expenses than Chapter 7 bankruptcy cases. According to Orlando court rules, a conventional Chapter 13 case must be filed and completed with legal costs totaling at least $4,500 (plus the filing fee). If your Chapter 13 case includes a fully-owned company or other complex legal difficulties, the legal expenses will be more significant. When the debtor decides to use the court’s mortgage mediation program, the court permits an extra charge of $1,500-$2,500.
A typical Chapter 13 Bankruptcy Attorney in Miami, FL, charges $4,000 to file with their agency. Before filing, they charge a fee of $2,500, which is recouped in full via the bankruptcy estate plan. If the debtor operates a company, owns many pieces of real estate, is seeking mediation for a mortgage modification, or is removing a wholly unsecured second or third mortgage lien, their costs will be higher.
Conclusion
It’s a great idea to contact a Florida bankruptcy lawyer for several reasons. However, not all bankruptcy Miami lawyers are the same. Therefore, it would help if you did your homework before hiring a lawyer to represent you in a legal matter. Before choosing a lawyer, inquire about the attorney’s expertise and credentials. You could also search on the internet and check out their past customers’ feedback.