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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Law » What do you think of my bankruptcy lawyer?

What do you think of my bankruptcy lawyer?

I am being charged a $1500 retainer. I had to sign something that said I would pay any cost over $1500. The paper work I signed says the rate is $150 per hour. I am worried about having to pay more than $1500. That amount given the lawyer’s rate is 10 hours worth of his time. Do you think a simple bankruptcy (credit cards only) will take more than 10 hours? I live in Michigan.

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4 Responses to "What do you think of my bankruptcy lawyer?"

  1. GenXGirl says:
    I went through a bankruptcy this past year and am in the process of rebuilding my credit.

    I did not have to pay anything over the 1400 fee.

  2. AvianFlu says:
    This is typical. You’re not alone, and your retainer should satisfy the demands on the attorney’s time. But that being said, it depends on your financial background and how complex the filing will be.

    The 10 hours could be used up 4 hours prior to going to court, so you could actually end up paying more, but for most “normal” bankruptcy cases, you should be fine. If ever you doubt, just call and ask your attorney where you stand.

    Good luck!

  3. kstaley says:
    $1500 for a Chapter 7 would be a bargain in this neck of the woods (San Diego.) I’m guessing that’s the chapter you’re filing (?) Sounds like a reasonable fee, but you can always check around in your city. Attorney’s fees are negotiable. If you’re uncomfortable with the exposure to a possibly higher fee, ask the attorney to set a limited, fixed fee and commit to it in writing. If he refuses, you can probably insist on a full refund and shop the fee elsewhere. Be careful, though. When shopping for legal services, finding the lowest price isn’t the most important thing. An inexpensive fee with shoddy work doesn’t end up saving you any money.

    If your case is a Chapter 13, that’s a different analysis, but the fee still sounds reasonable, even inexpensive, but unrealisticly low.

    I am a bankruptcy attorney in San Diego, California. http://www.bankruptcy-sandiego.com

  4. Taxes and Personal Finance says:
    Do not agree to sign something saying you will agree to pay any cost over $1,500. It sounds very shady. Bankruptcy charges are generally capped at whatever they quote you. A range of $1000 and up is not unusual. I know a few people that had it done for about $1,200 and there were no additional cost. A lot of the work is done by paralegals. I don’t know if they are including that as the attorney’s time. Either way, its a one time charge and that’s very standard.

    For new tax law changes or tax advice including cash for Clunkers or Homebuyer’s credit visit http://www.cpaformytaxes.com

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