Monthly Archives: March 2017

How much does it cost to file bankruptcy? – Basics of filing bankruptcy

When you are bankrupt, then every penny is counted. You have lots of debt on you and in between of this, you have to pay money for filing bankruptcy. Well, there is no way to get rid of these fees because, but you can save yourself from spending more on it. So, let’s start with the basics and clear your confusions about how much does it cost to file bankruptcy?

Average filing costs

If you file bankruptcy under the 7th chapter of it, then its fees are around dollar three to three fifty. Court of United States charges this amount of money from you. Keep in mind that such costs are not negotiable. If someone is telling you that they can do your work for cheap, then it is a scam. When you are in vulnerable position, then there are many people who want to take advantage in your hard time. Besides this, this fee is actually basic, and you have to pay additional fees with the basic one.

Waiver and installments

A bankruptcy petition is filed when these payments are due. In this case, many people take permission from the court in which they request to pay the required fees in installments. In many cases, court waived their fees when their bank balance is tight. But for this fee waiver, it is must that your bank account is nearly empty. If you are in a condition to afford such charges, then this option is not for you. Even if you are capable of paying this fee in installments then also this wavier thing is not possible. So, this is an important suggestion when you need to know how much does it cost to file chapter7 bankruptcy.

Cost of Credit Counseling

Filing bankruptcy is not an easy process as approval from a credit council is required. Financial management course is another on which you have spent money. But its fees are very minimal, and it is necessary for dismissing your bankruptcy.  Also, justice department of US even suggests you some of the agencies that offer such courses and services. Also, compare their fees or cost as it is better to spend as little as you can.

Attorney fees

If you considered the attorney option, then this additional charge is also on this list. But in this case, there are no average attorney fees because it varies according to their status, name, and work. Also, if your bankruptcy case is complicated then get ready to pay a quite big amount. The expected fees of attorney range from eight hundred dollars to one thousand five hundred dollars. But yes, an attorney is one of the best decisions while filing bankruptcy. Some of them are very helpful and offer concession to their clients. Also, they also provide consultations services to know your point and options.

How much does it cost to file bankruptcy? This question bothers and a quite frustrating for many people. But if you keep your mind fresh then there are options and solutions to this problem.