Bankruptcy - Debtor Law Questions
How much will it cost?
We do not do Chapter 7 or Chapter 13 debtor’s cases. There are other local attorneys who specialize in those and who have designed their law practices to handle those kinds of cases. Chapter 11 cases are very expensive. Chapter 12 cases are typically much less expensive than Chapter 11’s, and they can range from a few thousand to tens of thousands of dollars.
Why can’t you tell me how much it will cost?
Because there is no way to completely anticipate the reaction of the creditors or how well your business will be able to operate under the restrictions imposed by the bankruptcy rules. Also, attorneys’ fees typically must be approved by the bankruptcy court, so there is no way to know in advance whether the court will approve all the fees sought.
How long will it take?
In most Chapter 11 cases, plan confirmation will occur between 6 months and a year after the case was filed. However, it is not unusual for that process to take multiple years. Also, there may be several months of administration involved after the plan is confirmed.
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