Hiring a lawyer for Chapter 7?

Asked over 3 years ago - Hempstead, NY

I have been unemployed for over 6 months. Given my current debt to savings ratio I have decided to opt for Chapter 7. I have put this off for as long as I can but at this point the responsible decision is to cut my losses and focus on my secured debts (i.e. student loans) when my situation does improve.My case is fairly straightforward: no vehicle, real estate, or securitized property, and my savings are below the EIPA. I have researched the requirements, am below the median income levels & have sourced debt counseling. A capable attorney who knows the local courts can make a world of difference. I have about $1700 saved to hire an attorney if I ever got to this point and am open to any advice as to whether or not this would be sufficient. Might I be able to secure partial representation?

Attorney answers (3)

  1. George Peter Conway

    Contributor Level 17

    Answered . It sounds like you have saved enough to cover the cost and fees to file for a chapter 7 Bankruptcy. I suggest that you consult several bankruptcy attorneys in your area to find the one best suited to represent you. Many bankruptcy attorneys offer free initial consultations. If you need assistance finding a bankruptcy attorney in your area, I suggest you contact the New York State Bar Association Lawyer Referral Service at (800) 342-3661.

  2. Michael Hal Schwartz

    Pro

    Contributor Level 15

    Answered . The fee for a Chapter 7 cases varies from 1500-2500 or so. See if you can find an attorney in your price range.

  3. Dorothy G Bunce

    Pro

    Contributor Level 20

    Answered . Why would you want to delay any further? You have probably saved enough money to hire an experienced bankruptcy attorney to fully represent you. Further delay is just going to prolong your distress & continue to wreck your credit!

    BTW, your student loans are not secured debt. They are unsecured debt that is not eligible to be discharged.

    Hope this perspective helps!

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