I handle most Chapter 7 bankruptcy cases on a flat fee basis. My fees for a Chapter 7 range from a minimum of $2,500.00 to a maximum of $7,500.00, depending on the complexity of the case. My median fee for a Chapter 7 is $3,000.00. My flat fee covers many things that paralegals cannot do, and other bankruptcy attorneys charge extra for. Half of the fee is due when you hire me, half is due immediately before filing of the bankruptcy petition. All costs are included except the Bankruptcy Court filing fee, which is $338.00 for a Chapter 7 and $313.00 for a Chapter 13. I typically charge $5,000.00 for a Chapter 13 bankruptcy case for debtors who work for a company, and $6,000.00 for debtors who are self-employed, though complicated cases may involve additional fees. I typically ask my clients to pay me $2,500.00 before the filing of the Chapter 13 petition, with the balance of my legal fees being paid through the Chapter 13 plan. This allows my Chapter 13 clients to file bankruptcy and save their homes without having to pay me the entire legal fee before the filing of the bankruptcy petition.
Adversary Proceedings, representation of creditors, and state court litigation matters are handled on an hourly basis. The typical retainer for an Adversary Proceeding is between $7,500.00 and $10,000.00. My hourly rate is $595.00/hour. The hourly rate for my Partner Sofya Davtyan is $545.00/hour. The hourly rate for my Mid-Level Associate Attorneys Carolyn Afari and Robert Poteete is $435.00/hour. The hourly rate for my Associate Attorney Angeline Smirnoff is $395.00/hour. The hourly rate for my law clerks and paralegals ranges from $200.00 to $250.00/hour. These rates are substantially less than those charged by other bankruptcy attorneys with similar experience. Unlike other attorneys, I never raise my hourly rates in the middle of a bankruptcy case.
Chapter 11 business reorganizations are billed hourly, with a typical retainer of $25,000.00 for an individual or small business Chapter 11. This retainer is usually split into 2 equal payments, with the first payment due when I am hired and the second payment due immediately before the filing of the Chapter 11 petition. The filing fee for a Chapter 11 is $1,738.00. Most law firms that handle Chapter 11s charge substantially more for a retainer, ranging from $30,000.00 to $150,000.00. Unlike some other bankruptcy attorneys, we NEVER ask for a personal guarantee of payment of our client company’s fees and costs.
For an exact fee quote in writing for your matter, call me at 310-271-6223 to discuss the specific facts and circumstances of your case.