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Bankruptcy attorneys file bankruptcy, themselves, both Chapter 13 payment plan bankruptcies, or Chapter 7 liquidation bankruptcies, more often than we get million dollar fees.
But, what is news?
Over a billion (yeah, B as in Billion) in attorney fees, on a bankruptcy case?
Yah, you betcha.
“These fees are higher than my model would’ve predicted,” said Stephen Lubben, a professor of bankruptcy law at Seton Hall University. – as quoted on the CNN Money site, on his model for bankruptcy attorney fees.
Of course, that is a Chapter 11 bankruptcy model, which consumers, that is, folks like you and me, rarely file.
So, more stories about how “lucrative” bankruptcy practice is.
Now, me? I ain’t complainin’, I work the broke side of the street, fighting mortgage companies and other big bad creditors, even the IRS, for individuals. Guess what? There is more money on the other side of the street.
As I heard another attorney say at a consumer attorney conference: “Isn’t it great that we can tell our children what we do for a living?”
OK, not all creditor attorneys are bad.
Not all consumer attorneys are dedicated to tilting at windmills, a la.
However, on average, if $ are your goal, you are in those big firms doing BIG Chapter 11 bankruptcy cases for BIG bucks.
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Now, Lehman’s bankruptcy did involve billions and billions of dollars, and, the 1.6 billion figure includes management fees for running the company during the years it has been in Chapter 11. Said fees are not really attorney fees, but, the headline caught my eye.
You can get a FREE consultation from me, and a written retainer agreement, that spells out everything, up front, in advance.
My retainer agreements have grown over the years to cover most things bankruptcy clients ask about; as more questions arise, I throw the answers into the form.
It is 4 or 5 or 6 pages long, depending on which chapter bankruptcy you are filing.
GET A WRITTEN FEE AGREEMENT FROM ANY LAWYER YOU HIRE, FOR ANYTHING.
Other attorneys playing the alphabet game:
Philadelphia Suburban Bankruptcy Lawyer, Chris Carr MBA
Omaha and Lincoln, Nebraska Bankruptcy Attorney, Ryan D. Caldwell
Cleveland Area Bankruptcy Lawyer, Bill Balena
Colorado Springs Bankruptcy Attorney Bob Doig
Kauai Bankruptcy Attorney, Stuart Ing
Los Angeles Bankruptcy Attorney, Mark J. Markus
Jacksonville, Florida Bankruptcy Attorney, J. Dinkins G. Grange
Downriver, Michigan Bankruptcy Attorney, Christopher McAvoy
San Francisco Bankruptcy Attorney, Jeena Cho
Wisconsin Bankruptcy Lawyer, Bret Nason
Marin County Bankruptcy Attorney, Catherine Eranthe
Daniel J. Winter, Chicago Bankruptcy Lawyer
New York Bankruptcy Lawyer, Jay S. Fleischman
Livonia, Michigan Bankruptcy Attorney, Peter Behrmann