What Can a New York Bankruptcy Lawyer Do for You?
If you are facing the bankruptcy process, a bankruptcy lawyer can guide you through the process to ensure that your rights are protected. A New York bankruptcy lawyer can help determine whether there are any alternatives to bankruptcy available to you. Your bankruptcy lawyer will communicate with creditors on your behalf, greatly reducing some of the stress associated with the bankruptcy process.
The laws governing bankruptcy vary widely from state to state. If you are facing bankruptcy in New York, you will want to hire a New York bankruptcy lawyer as they will be most knowledgeable in terms of what laws will affect your case.
A bankruptcy lawyer can help determine which chapter of bankruptcy you should be filing for, based on the amount of debt and the number of creditors owed. Finally, a New York bankruptcy lawyer can help you learn which of your assets are protected from bankruptcy and collections.
How Much Does a Bankruptcy Lawyer Cost?
It is not uncommon for bankruptcy lawyers to work on an hourly basis. They may also request a retainer. The exact amount that a bankruptcy lawyer will cost varies according to many different factors, such as:
- Location, as attorneys working in areas such as New York tend to charge higher rates;
- Experience and reputation, as more experienced attorneys generally charge more for their services; and
- Exactly which chapter of bankruptcy is being filed, as different chapters require different things.
Some bankruptcy chapters involve smaller amounts of debt, or fewer creditors. Such cases would likely cost less, due to the fact that there is less work associated with resolving the issue. Chapters that involve larger estates or many creditors will cost more in attorney’s fees to resolve.
Another factor to consider is court costs, which the attorney has no control over. A New York bankruptcy lawyer will typically cost between $965 and $1,550.