Denver Bankruptcy Lawyer
Colorado Bankruptcy Cost
NOTICE: The following cost ranges are included for general informational purposes only. The costs incurred when an individual, individuals, or a business files bankruptcy or hires a Denver Bankruptcy Lawyer are likely to be different in each case, and those costs may not be significantly commensurate with the numbers quoted below, or anywhere else on this website. Determining, with any degree of reasonable certainty, the costs that you will incur in filing bankruptcy, or hiring a bankruptcy law firm, can only be achieved by speaking directly with the attorney who will be handling your case.
At Hoff Law Offices our Denver Bankruptcy Attorney Cost & Fees are very reasonable. We can help with the following:
- Chapter 7 Bankruptcy Filings
- Chapter 11 Bankruptcy, a/k/a, “business bankruptcy”
- Chapter 13 Bankruptcy Filings
The cost of a bankruptcy depends on your specific situation. For example, it costs more in attorney fees for a debtor with multiple investment properties and businesses than it does for a low middle class person struggling to make ends meet. The former has a complicated set of affairs but the latter may simply be buried in credit card debt.
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Worrying about how much it will cost you to file for bankruptcy makes sense because you are in dire financial straits. But you should always hire an experienced and resourceful lawyer because that lawyer will offer more value to your case.
Cost of Hiring a Bankruptcy Lawyer
Think about it, the amount you need to pay lawyer’s fees pales in comparison with the unsecured debt amount that a lawyer can discharge through a Chapter 7 or Chapter 13 Bankruptcy. The attorney’s fees will also vary depending on the number of unsecured creditors you are dealing with. Since you don’t have to continue making monthly payments for unsecured debt because the debts will soon be discharged, use the money instead to get the services of a resourceful and experienced attorney. Unsecured debts include:
- Business lines of credit
- Credit cards
- Medical bills
- Pay day loans
- Lines of credit
- Overdraft protection
- Personal loans
You can also stop paying for secured debts that involve your property such as a vehicle or your home. The reason of this is that such debts will be considered unsecured once the property is transferred.
Other Ways To Pay For Your Bankruptcy
You can ask for a temporary loan from a generous relative or friend to pay for bankruptcy. The loan will help get you get back on your feet faster, and you can pay back the money after the case is closed. If this is not an option, then you may have to get money from your 401(k) or IRA account as a last resort. Making a retirement plan withdrawal is not something you should do without thinking it through. This would be more ideal for a debtor that is 60 years old. However, before you raid your retirement account, speak to your bankruptcy lawyer for advice.
A number of bankruptcy lawyers in Colorado charge a flat-fee instead of the typical hourly-fee charged by other lawyers. This means that you cannot simply call a lawyer and ask how much you will have to pay to file for bankruptcy. Bankruptcy lawyers will ask to analyze your case first before they quote a price. In Colorado, lawyer fees for Chapter 7 bankruptcy cases range from about $1,800 to $5,000+, in addition to a filing fee of approximately $335 for a Chapter 7 bankruptcy. A Chapter 13 is likely to cost more than a Chapter 7, and a Chapter 11 typically costs more than a Chapter 13. Keep in mind that you may end up paying much more than the average cost depending on how complex your case is. In order to determine the costs that you will incur to file bankruptcy, you should contact an attorney. Do not rely on the numbers presented on this website, or anywhere else on the internet.
Bankruptcy Exemptions in Colorado
You should know that you will not lose everything after filing for bankruptcy like many people think. There are certain assets that are protected by Colorado’s exemption laws. To know which property you can keep, see if it appears on Colorado’s exemption list and the federal non-bankruptcy exemption list.