Bankruptcy is essentially telling the government in so many words that you can’t afford to pay off your debts. So it is ironic when you consider the fact that legally admitting to not having enough money costs money. It’s a real life Catch-22 situation. However, bankruptcy courts historically have looked at bankruptcy filers as a case-by-case basis and have given certain “breaks” to those who sorely need it.
For example, some judges will waive the fee associated with the now mandatory credit counseling and debtor education courses which are required before and after every bankruptcy. You will want to talk to your bankruptcy attorney about whether or not that fee of about $60 can be waived in your case.
Not counting the bankruptcy itself, here is an idea of how much you will have to spend in fees at the time of filing, according to Administrative Office of the U.S. Courts.
• Chapter 7 bankruptcy - $299
• Chapter 11 bankruptcy - $1,039
• Chapter 12 bankruptcy - $239
• Chapter 13 bankruptcy - $274
NOTE: Keep in mind that Chapter 7 bankruptcy and Chapter 13 bankruptcy apply to almost all consumers and most businesses. Chapter 11 bankruptcy is primarily for eligible businesses and Chapter 12 bankruptcy is primarily for farmers.
These fees are not set in stone and may vary from case to case depending on which fees you can manage to exempt yourself from. A competent bankruptcy attorney will be able to guide you toward every possible loophole in making the fees process of your bankruptcy as minimal as possible since the bankruptcy itself will cost you plenty in the long run.
So talk to a licensed bankruptcy attorney in your area today about the fees associated with filing bankruptcy.
For a free bankruptcy evaluation, call:
(877) 448 - 7640.
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By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.
If you live in Alabama, Florida, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.