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Chapter 11 bankruptcy attorney fees

New York, NY |

Is chapter 11 bankruptcy lot more complicated? Do attorneys ask for lot more retainers for chapter 11 & do the fees get paid through courts on monthly basis like other obligations.If previous chapter 7 discharge was NO ASSET NO REAFFIRMATION DISCHARGE can old mortgage note be still enforceable to violate chapter 13 debt limit--or is that the obligation under old note has been reduced to IN REM only as stated in bankruptcy laws & reduced to present value of the house? Debtor still lives in the house(primary residence) Thank you.

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Attorney answers 2


Chapter 11 is very expensive and very complex. It relates to restructuring a business. I don't know any bankruptcy attorneys who would even consider starting a filing without $10,000 and more in retainer.

Speak with a local bankruptcy attorney about your options as Chapter 11 is likely not the best option.

This answer is for informational purposes only and is not legal advice regarding your question and does not establish an attorney-client relationship.


Chapter 11 is much more expensive. I usually take a 25,000 retainer, and apply it to the monthly billings approved by the Court. As for the second part of your question, not sure how the old note would have been revived. It should only be In Rem.

The previous information is solely for informational purposes only. If you have further questions, please contact an attorney in your area for more specific answers. Responding to your question in no way creates an attorney/client relationship, and none of the specific guarantees of privacy exist. If you have found this information helpful, kindly check the "helpful" box.

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