The cost of filing for bankruptcy varies depending on the type of bankruptcy you file for and where you live. Generally, there are two types of bankruptcy filings for individuals: Chapter 7 and Chapter 13.
In the United States, the filing fee for a Chapter 7 bankruptcy is currently $335, while the filing fee for a Chapter 13 bankruptcy is $310. However, these fees may change over time, so it’s important to check with your local bankruptcy court to get the most up-to-date information.
In addition to the filing fee, there may be other costs associated such as attorney fees, credit counseling fees, and debtor education fees. If you hire an attorney to help you with your bankruptcy filing, their fees can range from a few hundred to several thousand dollars depending on the complexity of your case. Our firm always offers payment plans for any legal fees associated with your bankruptcy filing.
It’s important to note that while there may be additional costs associated with filing for bankruptcy, you will typically be able to discharge many of your debts and start fresh financially, which can ultimately save you money in the long run. However, it’s important to carefully consider all of your options and consult with a qualified bankruptcy attorney before making any decisions about filing.
If you have any questions about the topic discussed in this article, or any bankruptcy law matter, please give us a call at Bononi & Company 724-832-2499.