Back from first consultation...

[JEM]

Overall, I got a good feeling about this attorney. But that may just be relief from finally talking to a "professional" about filing.

He's been doing it for 14 yrs. He seemed to know his stuff. Nothing he said contradicted anything I've learned on my own.

I told him I was concerned because when I finally added up paystubs from July-Dec. that we were $900ish dollars over the median. I told him that my husband received a referral bonus at work for $1000 and that he'd sold off some vacation time for us to stay afloat a few months back. Plus, working OT that won't last (at least not at the rate he's working it now). He said overcoming $900 over the median is not a big deal. Even if we wanted to file NOW. He said it would be perfectly ok to wait for those to "fall off" though.

I'm sure we'll wait a few months to file anyway...but it was a relief to hear that our case seemed to be an easy Ch. 7.

Now...for the concern. The fees are pretty high for a Ch. 7.

$2500 plus the $299 filing fee.

That's about $1000 more than I'd anticipated we'd have to pay.

I have a consult set up for next Tues. with another attorney. So we'll see how that one goes too.

[frogger]

Now...for the concern. The fees are pretty high for a Ch. 7.

$2500 plus the $299 filing fee.

That's about $1000 more than I'd anticipated we'd have to pay.

How complicated and involved is your 7 going to be? I actually paid a little more than that for mine, but I had a lot of things to deal with that most people don't.

Congrats on getting the ball rolling. Feels good doesn't it!

[JEM]

How complicated and involved is your 7 going to be? I actually paid a little more than that for mine, but I had a lot of things to deal with that most people don't.

Congrats on getting the ball rolling. Feels good doesn't it!

According the the attorney....not complicated at all.

We're keeping the house and car.

We don't have any student loans, tax issues or anything like that.

No assets that will have to be given up--and if we wait it out a few months, we'll be back under the median income.

So that's where I'm torn on the higher fees. I mean, just because we've got a pretty straightforward case, doesn't mean I want someone that will drop the ball, BUT I don't want to overpay if we don't have to.

I'm hoping the next consult will be someone I like and the fees will be a little lower.

[coolmom04]

Congrats on your first consultation! The attorney we are now leaning towards wants $2,900 (including the retainer, filing & credit counseling fees). We are 9K over the median, so I am guessing it's more work b/c there will be more scrutiny.

[Flowers]

. . . glad you finally met with an esq. and that you asked your questions, and were able to determine he seemed to understand your specific case.

[JEM]

Remembering one thing that attorney told me the other day...he said in TX you have to reaffirm autos (no ride thru), but you do NOT need to do a reaffirmation on mortgages.

Was hoping someone could weigh in with their experience.

I like the sound of it, if it's accurate.

[Overmihead]

That's really good to know about the mortgage, thanks JEM. I was wondering about that because I have a close friend who went through a Ch 7 BK, here in TX, and she had told me they didn't have to do anything as far as the mortgage went...it just continued as usual. But yet, I had read that a lot of people on here had to take certain steps to continue their arrangement. She also said nothing changed with their checking account at their credit union (though they did have a loan there they had to reaffirm). Will be waiting to hear how you like the other attorneys and if their fees are in line with this first one.

[OhioFiler]

The bankruptcy code no longer allows ride throughs period. All filers must either commit to surrender the asset or reaffirm. MOST filers commit to reaffirm but never do so. This becomes a ride through by default.

[JEM]

The bankruptcy code no longer allows ride throughs period. All filers must either commit to surrender the asset or reaffirm. MOST filers commit to reaffirm but never do so. This becomes a ride through by default.

Hmmm, so was the attorney "wrong"? I would definitely cross someone off my list that was giving "inaccurate" info.

So, we would "say" to our mortgage company that we were going to re-affirm, but never sign the paperwork? Is that what you mean by ride-thru by default?

[Mi Bankruptcy]

that seems pretty high for a basic BK7. Have met with other attorneys? The price may also reflect your area. Congrats...

[JRScott]

He's not wrong JEM.

Officially Federal Law does not allow ride throughs anymore.

However in many states there are laws that override that. Thus in most districts ride throughs are still allowed on real assets (like land or home).

[JEM]

that seems pretty high for a basic BK7. Have met with other attorneys? The price may also reflect your area. Congrats...

I'm thinking it's high for our area. I do have another consultation on Tues.

[fireworks]

I'm sure it depends on your area, but in north Texas (just a bit north of Dallas) I consulted two lawyers who quoted me $2399 and $2400 for a personal chapter 7. Both included the filing fee. Mine is pretty complicated, including two businesses that closed and one that remained open.

[JEM]

Meeting with attorney #2 is tomorrow.

Definitely less nervous than I was about going to the first one because I know what to expect.

I think my husband is beginning to relax more now that we've had some questions answered from an attorney.

[rooster0330]

just got back from my initial consulation and he said we would definately just ride-thru the mortgage but reaffirm the car! We are in New Jersey if that matters.

Also we were quoted $1500 plus $299 filing fee.

We are pretty cut and dry chap 7 not surrendering any assets etc...