How Much Does Filing For Bankruptcy Cost In New York?

At the Law Office of Gregory Messer, we can answer your questions about filing fees, attorney fees and expenses to file for bankruptcy in the Brooklyn, Bronx, Manhattan, Staten Island and Queens.

Given that an individual or business considering bankruptcy is already in financial distress, perhaps the last thing they want to hear is how much it costs to file for bankruptcy. But it is a wise investment to achieve the financial relief and the protection afforded by the bankruptcy laws.

How Much Does It Cost To File For Bankruptcy In New York?

The filing fees are subject to change, but as of Feb. 24, 2024, the filing fees are:

• Chapter 7: $338
• Chapter 11: $1,1738
• Chapter 13: $313

Check the complete list of New York filing fees here.

What Legal Fees Should You Expect?

Bankruptcy attorneys can use two different methods to charge for their legal services:

• An hourly rate — Using this method, the attorney quotes you a per hour rate for his or her services, billable either by the quarter hour (15 minutes intervals) or by tenths of an hour (6 minute intervals). The attorney will likely request a retainer up front, which is likely to be of an amount more than sufficient to cover his or her fee for the entire bankruptcy process and thus at the end of the process you will be entitled to a refund for the time not expended. The advantage of this method is that you only pay for the actual time your attorney spends on your case.

• A flat fee — Using this method, the attorney quotes you a fixed amount for his or her services and if the attorney spends more time on your case that he or she planned, you are not billed for it. The advantage of this method is that you know at the beginning of the case exactly what you are paying for your attorney’s legal fee, no more, no less. The attorney’s fee must be paid up-front (otherwise after filing the bankruptcy petition the attorney would become just like any other creditor and his or her legal fee could be subject to being discharged without being paid).

What Expenses Do You Pay?

In addition to the cost of filing, expect to pay these additional expenses:

• Credit counseling course registration
• Expenses of your attorney, such as photocopying, parking and travel expenses
• Paralegal services
• Trustee fees

Let An Experienced New York Bankruptcy Lawyer Help You File For Bankruptcy

If you live in New York City and think bankruptcy may be a viable option for you, contact the Law Office of Gregory Messer online or at 347-943-8475 to schedule a free initial consultation. Our office is located across the street from the U.S. District Bankruptcy Court in Brooklyn and is close to the Borough Hall and Court Street subway stations. We serve residents throughout Brooklyn, Bronx, Manhattan, Staten Island and Queens.

To ensure every client’s filing receives the attention it deserves, we are an appointment-only law firm with flexible hours adjustable to fit your needs.