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Monday, April 17, 2006

What has happened to your fees since reform?

Okay, it's been about 6 months since BAPCPA. Some have suspended chapter 7 practice, some chapter 13 work, and still others have stopped handling conumers altogether, playing directly into the hands of the finance and credit card companies (who after all wanted to thin the herd and leave more money on the table for themselves). Those who were occasional bankruptcy practitioners never recovered from the one-two punch of electronic filing and reform (RIP).
In short, I'm not sure who's still out there practicing in the bk courts (especially here in DuPage County) to answer this question but here goes nothing: what are you charging these days? for a 7? for a 13? All responses will remain anonymous unless you indicate otherwise. Send responses to me by clicking here. And to prove that you're not alone, whatever your would-be response, here are some anectodal responses from another informal survey:
Fees are up for me, about 40-60% depending on the complexity.The differential is because it does take more time to do mechanics of the filing (means test carefully, disclosures, etc.) Also, there is greater risk.
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Fees have increased about $500 a case for me to cover time of my doing property profiles and title issues. ____________________
Before The reform act I made an average after payment of filing fees of 1500.00 per chapter 7. Now I am getting about 2100 per personal chapter 7 case but out of that now 299.00 is filing fees and then there is the fee for credit reports and appraisals.
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I have increased my Ch 7 fees to $1,500 from $800.00. I understand that closer to the big city, they’ve gone up to $2,000 for a seven.
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I have raised my fees for a basic Chapter 7 from $775 to $1500, not including the filing fee. My secretary tells the potential clients upfront about the fee. I take a basic $250 retainer and they can take up to 90 days to pay the remainder. Most Attorneys that are still taking cases are around the same level.
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I have raised fees. On average 40%. The chapter 13 fee is by local rule and it went from $1,800 to $3,000 but the judges are now stating that $3K is too much for some cases when they look at them. The point originally of a local rate was to stop the review.
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7 went up $500 from $1000 to $1500
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I am quoting at least $200.00 higher.
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Almost doubled the fee, how ever my fee includes both counseling classes
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Local rules are going to raise the fixed fee agreement in the southern division to probably somewhere around a bit over $3k. Presently at $2460 [13’s]. As for Chapter 7…I am asking for $1650.00 [costs included]---up about $300-500.00 from previous.
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$1,500 if they have money or less if desperate that week.The time and risk obviously are significantly higher but the people still are broke so who can afford to pay the fees. Remember the cc are telling clients what they should be paying,etc. It is not a free market and never has been except now we have more work,riskis greater,etc. We are still lucky and must adjust practices to stay in the game or go work for the government.
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I raised fees about 50%

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