How Much Does It Cost to File Bankruptcy in NYC?

How Much Does It Cost to File Bankruptcy in NYC?

If you’ve been trying to find out how much you’ll end up paying to file bankruptcy in NYC, you may not like the answer. Unfortunately, the amount that your bankruptcy will cost you varies greatly depending on many factors. Some of those factors include:

How Complex Is Your Debt?

Many bankruptcy cases are very complex. They involve lots of debt, multiple creditors, different assets, and much more. There are often varying income situations to consider, as well as injuries or layoffs and other situations. In other words, bankruptcy cases can get complex fast. If you have a lot of creditors, or if your money situation is very complicated, the lawyer fees will likely be higher. You’ll also likely spend longer in court, which can mean your fees will end up being higher.

How Experienced Is Your Lawyer?

If you want to ensure that your lawyer is very experienced with bankruptcy, you may pay more than you would for a general lawyer or a new lawyer. However, the additional cost offers you the peace of mind that you are getting the best representation you can. This is not something you want to skimp on depending on your assets and situation.

How Much is at Stake?

If you have a lot of non-exempt assets that could be seized for payment on your debts, you’ll need a good lawyer in your corner to protect as much of your property as possible. While it’s impossible to go through certain types of bankruptcy without losing some property, a good lawyer can help you retain what you can. They’ll search for exemptions and make sure that your settlement with creditors is as low as it can be negotiated.

How In-Depth Will the Lawyer’s Services Go?

Not all bankruptcy lawyers in NYC are the same. Some only file paperwork, show up for court dates, and then send you on your way. Others provide practical financial advice for how to best handle the situation, as well as emotional support and more. Your lawyer could be your best advocate and friend in this situation if you choose the right lawyer. But of course, the more in-depth their services go, the more you’ll pay.

Why Bankruptcy Costs Are Worth It, and Good News

For so many people in NYC area, debt is their biggest stressor. It results in lost sleep, dodged phone calls, lost vacations, and more. Getting rid of your debt all in one go can be the next step to a life that you actually want to lead. The cost of a bankruptcy filing may seem hard to tackle now – but in a few years, you’ll be back to living life on your own terms. That kind of freedom is priceless.

And there’s good news. Your lawyer fees can be paid over the span of a year when you choose us to represent you with your NYC bankruptcy. We’re not here to make your bankruptcy harder to achieve. You have time to get all your debts paid and cover legal fees without strain on you. The whole point of bankruptcy is to get rid of stress, and we don’t want to add to that.

Free Consultation

If you want to know what you can expect to pay in a bankruptcy filing, the best thing to do is to contact us for a free consultation. We can take a look at your basic situation and debts, and give you a better estimate of what you may be looking at in terms of cost. Call our office at 212-244-2882.

William Waldner