You’re surprised that it costs money to file for bankruptcy protection? Even if you attempt to file for yourself the courts must be paid.
Face it, no one WANTS to file for bankruptcy protection. But this reluctance is why so many people find they can’t afford to file – they’ve exhausted their resources trying to avoid it.
Money down the drain
We see people who’ve sent their hard-earned money down the drain with so-called debt relief programs; they or pursue a mortgage modification that doesn’t come through; they hire a litigator to fight their foreclosure; and many drain their savings or, worse yet, their retirement plans trying to maintain a lifestyle they can no longer afford.
Court Costs, Attorney’s Fees and Credit Counseling Counseling
At the time of this writing, get ready to pay $299.00 to the Clerk of the US Bankruptcy Court for the privilege of filing Chapter 7 bankruptcy. The attorney’s fee begins at $799 for Chapter 7 bankruptcy and from $1999 for a Chapter 13 bankruptcy depending on the complexity of your situation.
Prior to the petition being filed, the debtor is required to take a credit counseling class. Our firm works with credit counseling providers to assist clients complete this requirement, which can be completed online or over the telephone.You will also need to put approximately $100.00 to the side for a pre-filing credit counseling briefing and a post-filing personal financial management education course.
Begin with a free bankruptcy counseling session
It costs nothing to explore whether you’re a candidate for bankruptcy protection in a bankruptcy counseling session. If we determine that you are a candidate for bankruptcy, and you hire us, you’ll pay for the session and our services.
Since the passage of new bankruptcy legislation in years past, the laws have become so complex that it is virtually impossible for lawyers who do not handle bankruptcy cases, much less a paralegal or document preparer, to be able to properly analyze a debtor’s situation, recognize the applicable exemptions and handle the debtor’s case from petition through discharge.
In addition to completing the debtor’s petition, an experienced bankruptcy lawyer can advise which banks are quicker to freeze deposited funds when bankruptcy is filed or which lenders will immediately repossess your car despite timely payments by a debtor.