One of the first questions people wonder when they start considering Chapter 7 bankruptcy is “how much is this going to cost?” There are three main expenses to filing for bankruptcy, filing fees, credit counseling and attorney’s fees.
Filing Fees: As you may know, the filing fees are fixed for a Chapter 7 bankruptcy case filing at $335.00. Often, it is possible to not pay your filing fees up front and to make payments directly to the Court for your filing fees after filing in installment payments. Ask your attorney about this option.
Credit Counseling: Two credit counseling courses are currently required for filing for either a Chapter 7 or Chapter 13 bankruptcy. One must be completed before you file (Certificate of Credit Counseling) and one must be completed after you file (Certificate of Financial Management). Your attorney will direct you with where to complete these courses. I have pre-priced out these courses to provide my clients with the most affordable options, usually about $14.95 for the pre-filing course and $9.95 for the post-filing course if they are completed online.
Attorney’s Fees: This is a hard answer to provide as the the cost of a bankruptcy case has many variables, including where you live, what District your case will take place in and what assets and income you may have. The best place to start is to schedule a free bankruptcy consultation with an attorney to get a direct quote. This can be scheduled by calling our office at 269-381-4471. A rough guideline to attorney’s fees for a Chapter 7 bankruptcy is a range between$500-$1500, depending on your case. Our office accepts ongoing payments for a bankruptcy case that you can pay over time, however, we are not able to file a case until your fees are paid on full.
While this may sound expensive, you must remember that most people often discharge thousands of dollars of debt by filing for bankruptcy, and with that in mind, bankruptcy is a good deal! Call our office today to review your options!
Firebaugh & Andrews can be reached at 734-722-2999 and offers FREE bankruptcy consultations.
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