How Much Does It Cost to Declare Bankruptcy?

Refresh your finances: set up a free, no-obligation call with a bankruptcy attorney. If You Have Any Issues Or Concerns, Please Don’t Hesitate To Phone Our Toll-Free Bankruptcy Dedicated Phone-Line: (877) 427-0314

“How much does it cost to declare bankruptcy?”
This is a relevant question that most people have at one point or another when they begin to consider declaring bankruptcy. How much it costs you to declare bankruptcy depends on the kind of bankruptcy you plan on filing for, and if you are planning on filing for bankruptcy then you are going to most often be limited to filing for either chapter seven, or chapter thirteen.

Fill-Out This Form to Be Put In Contact With Local Lawyers, Who Will Answer All Your Questions And Start You On The Path To Financial Freedom…No More Hiding, Stand-Up and Be Counted.

A declaration of bankruptcy typically begins when you file a petition with the bankruptcy court that presides over the area where you live. During this initial filing you are going to have to fill out a number of different forms with the court to begin your case, and your bankruptcy will not be put into motion until you go ahead with such action. This initial filing with the court is also going to cost you some money, by way of certain fees that are required with either a chapter seven, or a chapter thirteen filing.

If you file for chapter seven, you can expect to pay about two hundred dollars in total, with one hundred and seventy dollars going towards the appropriate filing fees, and thirty dollars going towards the appropriate noticing fee. If you file for chapter thirteen, then you can expect this sum to be a bit less, with only one hundred and fifty-five dollars going towards the actual filing fees. This means that you can save about fifteen dollars with a chapter thirteen filing, and you will therefore only have to pay one hundred and eighty-five dollars in total initially, instead of two hundred.

These are typically the only up-front fees that you’ll have to pay whenever you declare bankruptcy, although there are of course other costs involved that may not be as apparent. The most common and significant one is the money you must pay a Bankruptcy Lawyer, as these costs can be upwards of one, to two thousand dollars. Most bankruptcy lawyers will charge you about two grand for the comprehensive handling of your case, although this will depend on the actual lawyer, and the specifics of your case. It is recommended that you always hire a qualified bankruptcy attorney to assist you throughout your bankruptcy proceedings, and it is therefore imperative that you set aside enough capital to cover the costs of hiring one before you go ahead and actually declare bankruptcy.