CHAPTER 7
  • Simple Chapter 7 Bankruptcy for a single Individual debtor will be 
  • Legal fee $750
  • Court filing fee of $338
  • Cost for a credit report $37
  • Costs for the first counseling sessions $50 for single debtor.
  • Cost for the second Debtor Education Session $50
  • Total cost required to be paid in full by individual before filing is $1,225. If the Chapter 7 is for two married persons (joint petition) the legal fee will be $1,000, so the total due before filing will be $1,475.
  • There will be a somewhat increased fee for petitions where the total number of creditors is greater than 15 and the total amount of unsecured debt is greater than $50,000.

CHAPTER 7 FOR INDIVIDUAL
DEBTOR /SOLE PROPRIETOR

LEGALFEE WILL BE $2,000 due to increased complexity in calculating income and valuation of the business interest. Income issues for a w-2 employee are much less complicated in preparing the bankruptcy petition.

CHAPTER 13
  • For Chapter 13, the legal fee is $3,500 for services through the confirmation of a Chapter 13 Plan 
  • Court filing fee of $313 and counseling and credit report fee of $50 or $100 for joint cases.
  • However, depending on the financial circumstances of the debtors, the total legal fee need not all be paid up before filing the Chapter 13 Petition front as part can be paid inside the Chapter 13 Plan.
  • The portion payable through the Plan will depend on the particular financial circumstances of the client and their Chapter 13 Plan.
CHAPTER 7
  • Simple Chapter 7 Bankruptcy for a single Individual debtor will be 
  • Legal fee $750
  • Court filing fee of $338
  • Cost for a credit report $37
  • Costs for the first counseling sessions $50 for single debtor.
  • Cost for the second Debtor Education Session $50
  • Total cost required to be paid in full by individual before filing is $1,225. If the Chapter 7 is for two married persons (joint petition) the legal fee will be $1,000, so the total due before filing will be $1,475.
  • There will be a somewhat increased fee for petitions where the total number of creditors is greater than 15 and the total amount of unsecured debt is greater than $50,000.

CHAPTER 7 FOR INDIVIDUAL
DEBTOR /SOLE PROPRIETOR

LEGALFEE WILL BE $2,000 due to increased complexity in calculating income and valuation of the business interest. Income issues for a w-2 employee are much less complicated in preparing the bankruptcy petition.

CHAPTER 13
  • For Chapter 13, the legal fee is $3,500 for services through the confirmation of a Chapter 13 Plan 
  • Court filing fee of $313 and counseling and credit report fee of $50 or $100 for joint cases.
  • However, depending on the financial circumstances of the debtors, the total legal fee need not all be paid up before filing the Chapter 13 Petition front as part can be paid inside the Chapter 13 Plan.
  • The portion payable through the Plan will depend on the particular financial circumstances of the client and their Chapter 13 Plan.
OTHER SURCHARGES
  • There will be a surcharge if your attorney is representing a couple for themselves, or a single person filing for him/herself. 
  • A Joint petition will be $1,000 assuming there are less than 15 creditors and total of debts to be discharged is less than $50,000. If in excess because of the number of creditors or the amount of debt to be discharged in the Petition, there will be a higher legal fee. then the surcharge will need to be adjusted higher. 
  • If the individual is a business owner/ sole proprietor then the legal fee is $2,000. However, there still has to be added the filings fees, credit report and costs for the first credit counseling.
Client Responsibilities When Filing for Bankruptcy
  • We will begin preparation of your Bankruptcy petition after you sign a retainer agreement that outlines the terms of our lawyer-client relationship and after you have paid the necessary fees as provided in that agreement. 
  • You should have the means to communicate digitally with our office for the submission of the necessary information and documentation for filing a complete petition. This automated process is what makes possible the reduced legal fees through this office. You will be assigned a portal to use to enter information.
  • If necessary, arrangements can be made to have you visit our office to process the matter in a traditional manner.
  • You must complete a Debtor credit counseling course online or by telephone in order to file your petition.
  • You must attend one creditor’s meeting which is presently held telephonically for Chapter 7 and in Zoom format for Chapter 13.
  • You must complete, online or by telephone, a second counseling session for financial education to receive your Discharge Order.
Consumer Bankruptcy Law and Residential Real Estate. With specialized expertise in the practice of Bankruptcy Law in New Jersey, Robert Wachtel will assist you in a process that will free you from the prison of credit card debt and give you a fresh start on your road to financial freedom.
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Legal disclaimer: This web site has been prepared by the Law Offices of Robert Wachtel in the hope that it will assist you in becoming debt free through the Bankruptcy process. It gives information of a general nature and is not a substitute for competent legal advise. The viewer is advised to consult an attorney-at-law for legal advise as to his / her specific situation.

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