Hiring a bankruptcy lawyer in New Jersey can range from $1,500 to $3,500.
While it might seem like an extra cost, a bankruptcy lawyer can ultimately save you money by preventing expensive errors.
Research and select a lawyer with a successful track record and ample experience.
What does a bankruptcy lawyer do?
A bankruptcy lawyer is a client’s advocate in the bankruptcy process.
They work to protect their client’s assets from creditors and relieve them of debt obligations as much as possible.
They aim to secure the best outcome for their client.
A proficient bankruptcy attorney guides clients through the intricate and often stressful process, recognizing that each case is unique due to the individual’s situation.
Studies indicate that the success rate for Chapter 7 or Chapter 13 bankruptcy is significantly higher when represented by an attorney compared to self-filing.
How to find a bankruptcy attorney
Numerous directories list attorneys based on location and specialty, often requiring payment for listings without verifying attorney qualifications.
Consider starting your search with these online sources:
- The American Bar Association offers resources to find lawyers in various states, allowing you to check if an attorney is licensed in your state.
- The New Jersey Bar Association provides a county-by-county lawyer referral service.
The National Association of Consumer Bankruptcy Attorneys is dedicated to assisting consumers in the bankruptcy process but doesn’t endorse the listed attorneys.
You can also seek referrals from friends, relatives, or professional contacts, balancing privacy concerns with the risk of selecting an inadequate bankruptcy lawyer.
How much does a bankruptcy lawyer cost in New Jersey?
Bankruptcy fees vary depending on your chosen lawyer and whether you’re filing Chapter 7 or Chapter 13.
Nationally, Chapter 7 attorney fees range from $1,500 to $3,000, while Chapter 13 fees are generally $3,000 to $4,000, including attorney costs.
These are estimates, and actual costs depend on location and case specifics. Filing fees typically range from $300 to $350, with potential additional location-specific fees.
Consider the cost of a bankruptcy lawyer against the potential expenses of a negative outcome if you represent yourself, especially if lacking the necessary knowledge.
It’s crucial to weigh the value of an experienced lawyer who will fully represent your interests.