Fees | Colorado Bankruptcy | 5280Law

Fees: Why should you hire us?

With so many choices in the bankruptcy attorney market, choosing the right firm might seem overwhelming. You want personalized attention, but don’t want to pay an arm and a leg. What if your attorney messes up or doesn’t really have the experience needed to do a good job?

Some firms advertise fees of $500 or lower. It is rarely the case that an average person with a job, a car, and bank accounts are able to qualify for such a low fee. Sometimes these firms even charge a separate “credit counseling fee” or some other such nonsense. Although an attorney fee and a filing fee are standard, additional fees are not the norm. At our firm, you are able to choose whichever credit counseling agency you prefer. The one we usually refer our clients to is www.debtoredu.com and it costs approximately $15, though our clients are free to use whichever counselor they prefer, as long as it’s approved by the United States Trustee’s Office. The list of approved counselors is here: www.justice.gov-approvedcounselors

If you are shopping for the absolute lowest price, we are not the firm for you. You are not required to use an attorney to file for bankruptcy, but it is a very good idea. Bankruptcy is loaded with quite a few potential pitfalls. A lot of people think that since bankruptcy involves filling out a lot of forms, they can just do it themselves. In some cases, they don’t have any issues. In others, they seriously mess up and then have to hire a lawyer to fix their case and defend their property (such as a home), which can sometimes cost many thousands of dollars more than if they had hired a lawyer to do it right the first time.

Others, who in an effort to “save” money, go to a bankruptcy petition preparation service, find themselves in a similar situation as described above, then end up spending thousands on an attorney to fix it. Bankruptcy petition preparers can only type documents based on information you provide, they cannot offer legal advice. If they offer legal advice, they are breaking the law. The guidelines that Bankruptcy Petition Preparers must follow can be found here: www.justice.gov-bpp_guidelines.pdf. If you went to a bankruptcy petition preparer and did not receive and sign this guideline form, the preparer has broken the law.

Our firm is second to none in the state in terms of personalized, attentive service. Unlike some “bankruptcy mills” out there, we take a limited number of clients so you can rest assured that you have access to your attorney promptly when you have questions, not days later, assuming you get a response at all.

If you are shopping for the most peaceful experience in releasing the debt that is troubling you, this is definitely the firm for you. We love our clients and offer compassionate, individualized attention to help you feel comfortable with the bankruptcy process every step of the way. No judgment, no unnecessary paperwork. We just get it done, do it right the first time, and all for a FAIR price.

We work on a flat fee scale, beginning at $1,500 for Chapter 7 cases, depending on your financial circumstances and the complexity of your case. In addition to the attorney fee, a filing fee for the court of $335 applies and must be paid prior to filing.

Chapter 13 cases are significantly more complex and time-consuming, therefore they cost more. Chapter 13 cases are billed at $300 per hour with an initial retainer of $1,500. Once the Chapter 13 case is filed the balance of fees will be paid out over time when the debtor makes the Chapter 13 plan payment. The court filing fee for a Chapter 13 is $310.

Chapter 11 creditor representation and debt settlement matters are generally billed at an hourly rate of $300 for attorney time and $100 for paralegal time.