You have no money, which is why you’re filing for bankruptcy, yet it costs money to file bankruptcy. Sounds a little crazy right? Well you really have to look at the amount of money you spend on your bankruptcy as an investment. Imagine how much extra money you will have once you no longer are paying back creditors month after month.
The US bankruptcy courts have filing fees. The cost to file a chapter 7 is $306, Chapter 13′s filing fee is $281.
You also need to to take two course online or via phone the first is the credit counseling requirement. This usually runs around $25-$35. The second course is called financial management course and this runs around $35.00
I will usually run a credit report on you so we can make sure we did not miss any creditors this cost $35.oo
Finally, the legal fees for Chapter 7 bankruptcy cases in my office range from $994-$1,500 for normal chapter 7 cases. If you think you need some additional time to come up with the full amount, you can “retain” my law firm for as little as $500 and make monthly payments until the balance is paid. While your case cannot be filed until the balance is paid, by retaining my legal services, you can tell any creditor that calls you to call me.
Finally, for Chapter 13 bankruptcy cases, the overall limit is set by the U.S. Bankruptcy Court at $3,500 for normal cases and $3,500 for a business case. However, I can usually file a chapter 13 with $1,000-$1,300 up front. The Court allows me to put the remaining legal fees into your Chapter 13 plan payment.
I can help you understand the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy, so that you can make an educated decision about the best next step for you.