How Much Does Bankruptcy Cost?

Understanding the Factors Involved

If you are considering filing for bankruptcy, you probably have many questions about the process. One of the most common questions is about how much bankruptcy will cost to the filer. This is a difficult question to answer, because it depends on many factors. What type of bankruptcy you are filing for, how much money you make, how much debt you have, and any other assets that you have will all be factors in determining how much money you will be required to pay back to your creditors, and how much will be forgiven.

The first cost you will incur when filing for bankruptcy is the filing charge. This must be paid in order to file your claim and have a court date set. If you are filing for Chapter 7 bankruptcy, the filing charge is $335. If you are filing for Chapter 13 bankruptcy, the cost is $274. When you file for Chapter 7 bankruptcy, all or most of your debt will be forgiven, and when you file for Chapter 13, the court will set up a structured repayment plan for you to pay off a portion of your debts, and after a 3 to 5 year term, the remainder of your debt will be discharged. An attorney from the firm can explain the process in more detail and help you determine what type of bankruptcy you can file for, and how much it may cost you.

Experience Assisting Thousands with Bankruptcy

At Price Law Group, the legal team has over 20 years of experience handling bankruptcy cases. Over the years the firm has helped over 100,000 clients through their legal cases. The attorneys understand the bankruptcy process and can help you every step of the way. After you bankruptcy is complete, the bankruptcy lawyer can help you begin the process of credit repair, and make sure that your bankruptcy leaves you in a strong financial position.