Bankruptcy is an enormously complicated undertaking with great repercussions for you personally and for your business, if you are considering business filing.
On the one hand, there is a serious effect on your credit rating, and loans will be more expensive for several years.
On the other hand, you may be freed from overly burdensome payments, or from the threat of foreclosure, or from repossession of your vehicle or other property.
Sound good? Confusing? Which is the better choice?
Until you talk it out with someone, it is hard to tell.
Call Doug Koenig, a serious bankruptcy attorney looking out for your best interests.
If you do decide to file, here is the Bankruptcy Fee Schedule:
Personal -
• Chapter 7 - $1400 to file, plus court filing fees ($400 to open, full $1400 prior to filing)
• Chapter 13 - $3500 to file, plus court filing fees ($400 to open, $100/mo., $1500 due before filing, remainder paid over course of Chapter 13 plan as allowed by the Federal District)
Business -
• Chapter 7 - $2500 deposit, remainder (if any) estimated at time of engagement and billed hourly
• Chapter 11 - $2500 deposit, $5000 prior to filing unless otherwise negotiated, remainder billed hourly
All terms are covered at time of engagement, and are described in the contract for services plus the retainer agreement.
It is my hope that you reach financial stability so you can get on with life and not be burdened by fears, by threats, or by debt collectors. Call me today!