| If you're planning to file bankruptcy in New York for | | | | main debts, including credit card, medical, mortgage, |
| any reason, you should hire an attorney to help with | | | | and car debt. The only negative is your nonexempt |
| your case. But that costs lots of money, right? | | | | assets can be sold in order to pay off these fees. If |
| The biggest mistake bankruptcy filers can make is | | | | you're unsure of what property is exempt, or if |
| making price the main factor of choosing an attorney. | | | | you're within the income limits for New York, contact |
| But it is there, it is important, so let's address first | | | | an experienced attorney today. |
| the overall fees involved for filing personal | | | | How much do New York Attorneys Cost? |
| bankruptcy in New York. | | | | The average New York attorney charges based on |
| Chapter 7 fees cost $299 to file with the New York | | | | fees and expenses involved in the case. These are |
| court, while Chapter 13 is $274. Those are very minor | | | | usually set rates. If you query several attorneys in |
| in comparison to what you gain. These fees are the | | | | your area of New York, you'll get a general idea of |
| same wherever you are -- New Jersey, Pennsylvania, | | | | how much you might pay. Many believe you can |
| California, every state in the country. What's not | | | | negotiate, but in many cases these are the same |
| always the same is 1) eligibility and 2) lawyer fees. | | | | fees for all. |
| These do often depend on the state, the area you | | | | Also, choosing an attorney solely for the low price is |
| live in, and how much you make in comparison to the | | | | a big mistake. It should be considered, but you get |
| median income. | | | | what you pay for when it comes to experienced |
| Eligibility for Filing New York Bankruptcy | | | | New York bankruptcy attorneys. |
| New York is very unique as the median income here | | | | The fees will often be set rates. The expenses the |
| is higher than most other states. While it's not the | | | | attorney makes will also be included. Most bankruptcy |
| highest, it is in the top 10 of state median incomes. If | | | | attorneys charge $1,000-$2,000 for a bankruptcy |
| you are a single resident, for example, and you make | | | | case. Sometimes you may want to pay more. If |
| more than $50,000, as of 2010 you cannot file under | | | | price is a big issue, many are willing to set up |
| Chapter 7. Let's go over the numbers. | | | | payment plans. |
| New York Eligibility for Chapter 7 | | | | So we know the basic New York bankruptcy case |
| 1 Resident - $46,320 | | | | will be $299 for Chapter 7 and $274 for Chapter 13. |
| 2 Residents- $57,902 | | | | We also know the general rate for attorneys. Where |
| 3 Residents- $69,174 | | | | do you find the right attorney in your city? The |
| 4 Residents - $82,164 | | | | State Bar of New York has a good directory. Also, |
| And proportionally higher after that. | | | | many firms are online. Query 5-10 and factor in |
| Now, what exactly can Chapter 7 bankruptcy do? | | | | experience as well as price. |
| This is the classic form where you discharge all your | | | | |