Bankruptcy Law Attorneys

Bankruptcy Attorneys and Bankruptcy Law

Bankruptcy law attorneys are ready and available to provide you with legal advice on the bankruptcy laws, help you properly fill out and file your bankruptcy with the federal courts and provide quality representation for you at the bankruptcy court hearings. Are you thinking about filing for bankruptcy? Contact a bankruptcy law attorney and get the representation you need when you go to the federal bankruptcy court for your hearing.

The origin of the word bankruptcy can be traced back to Italy during the Medieval Period. The word "bankruptcy" is derived from the term "broken bench" or "banca rotta." Back then, tradesmen unable to repay their debts were dealt with harshly because the primary focus in that period was on recovering the interests of the creditors, not the welfare of the debtor. Debtors in those times of old found themselves facing such punishments as imprisonment in debtors’ prison and sometimes even facing the death penalty for nothing more than being overburdened with debts.

In the United States, bankruptcy laws were originally temporary measures passed in response to harsh economic conditions. The laws were later repealed when economic conditions improved. However, now bankruptcy laws have become permanent and have been periodically amended or revised to meet current economic and political conditions.

The Bankruptcy Act of 1898 was the first piece of modern day legislation to extend protection to corporations from creditors and is the foundation of today’s bankruptcy laws. Since 1898 there have been many acts and revisions: Bankruptcy Act of 1933 and 1934 during the Great Depression; Chandler Act of 1938; 1978, the first major overhaul since the Chandler Act; 1980 Bankruptcy Tax Act; 1984 amendments to the 1978 Act; the 1994 overhaul of the 1978 Act.

Modern bankruptcy law is a set of federal laws and statutes governed by Title 11 of the United States Bankruptcy Code and federal courts continue have exclusive jurisdiction over bankruptcy cases. Bankruptcy cases cannot be filed in state court, but there are still state laws that have to be followed in filing for bankruptcy and attending the federal bankruptcy court hearings.

Each of the 94 federal judicial districts, located throughout the United States, handle bankruptcy matters. Chapter 7 cases are handled quickly and normally require the debtor to attend an initial meeting with the trustee and maybe a discharge hearing, depending on state residence. However, those who file under other chapters will typically have to attend several federal bankruptcy court hearings. Contact a bankruptcy lawyer for more details on what to expect with your bankruptcy case.

Federal Court Fees

As with other court matters, there are court fees associated with filing for bankruptcy, which, as of November 1, 2003, are:

• Chapter 7 Case ($155 filing fee, $39 administrative fee, $15 trustee surcharge): $209*
  
  
• Involuntary Chapter 7 Case ($155 filing fee, $39 administrative fee, $15 trustee surcharge): $209*
  
  
• Chapter 13 Case ($155 filing fee, $39 administrative fee) $194*
  
  
• Chapter 9 Case ($800 filing fee, $39 administrative fee): $839
  
  
• Chapter 11 Case ($800 filing fee, $39 administrative fee): $839*
  
  
• Chapter 11 Case involving railroad ($1000 filing fee, $39 administrative fee): $1039
  
  
• Chapter 12 Case ($200 filing fee, $39 administrative fee) $239*
  
  
• Complaint Commencing Adversary Proceeding: $150*
  
  
• Motion for Relief from Stay: $150
  
  
• Motion to Compel Abandonment of Property by Parties in Interest: $150
  
  
• Motion to Withdraw Reference of Case or Proceeding to U.S. District Court: $150
  
  
• Amendment to Add or Delete Names and Addresses of Creditors or Equity Security Holders; Change Amounts Owed or Classification of Debt: $26
  
  
• Notice of Appeal including Docket Fee (to District Court, Bankruptcy Appellate Panel, or Ninth Circuit Court of Appeals): $255
  
  
• Cross Appeal including Appellate Docket Fee: $255
  
  
• Motion for Leave to Appeal when accompanied by the required Notice of Appeal: $5
  Note: If leave is granted, the Appellate Docket Fee** becomes due $250
  
  
• Ancillary Petition to a Foreign Proceeding ($800 filing fee, $39 administrative fee): $839
  
  
• Any check returned for lack of funds: $45

* Only one fee payable for joint petition by husband and wife.

** If appellant is the trustee or debtor-in-possession, the $250 Appellate docket fee shall be paid from the assets of the estate.

Other court fees apply for varying circumstances, and attorney fees are also extra. Contact a bankruptcy law attorney for a breakdown of how much it will actually cost you to file for a bankruptcy.

Retain a Bankruptcy Lawyer Now!

Are you struggling under burdensome debts? Are you considering filing for bankruptcy protection? If so, you need to contact a qualified and experience bankruptcy law attorney because bankruptcy laws are getting ready to evolve once again, and not in the consumer's favor as it had in the past. Now, new legislation is pending in congress to make it more difficult for consumers to file a Chapter 7 bankruptcy (complete dismissal) and force them into Chapter 13 (reorganization) repayment plan.

If you are planning to file for bankruptcy protection, particularly under Chapter 7, you need to contact a bankruptcy law attorney now before the new, stricter laws are in effect.