Attorney fees and payment plans
If you are considering bankruptcy as an option, one of the first questions on your mind will probably be how to pay your attorney fees. Whether the retainer is flat rate or hourly billing, your attorney should disclose to you at the start the total costs involved in your matter, including required courses, local filing fees for homestead declarations or other property protections, appraisals and other necessary valuations, credit reports and the court filing fee. The Bankruptcy court filing fee in Massachusetts is $299.00. The total attorney’s fees collected prior to the time of filing will be disclosed on your bankruptcy petition both under the Statement of Financial Affairs as a payment related to bankruptcy and the Compensation Statement of Attorney for Debtors. You can usually work out your form of payment plan with your attorney, but most attorneys would expect the entire amount of their retainer to be paid prior to filing or risk being added as an unsecured creditor of their client. Because the ethical rules vary from state to state, first consult with a qualified attorney in your jurisdiction to determine the most appropriate way for you to pay your attorney’s fee.
