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How much does it cost to file bankrupcty?

Date: Wed, 01/16/2008 - 02:05

Submitted by anonymous
on Wed, 01/16/2008 - 02:05

Posts: 202330 Credits: [Donate]

Total Replies: 5


I have no other option left than to file bankruptcy. My lawyer says it will cost me $1500, how does it cost to file bankruptcy? Are there different cost for different bankruptcies?

How does it cost to file bankruptcy?

Need to thank you for this place.
Merc


Mercury -

It completely depends on what chapter of Bankruptcy you file. Only an attorney can really give you a good estimate.

Chapter 7 filings can range in price from $500 to $800 - possibly higher.

Chapter 13 is MUCH more expensive, with attorney's fees ranging from $1500 to $3000 or more. Chapter 13 attorney fees can be paid through the Chapter 13 payment plan, however, where most Chapter 7 filings have to be paid before they are filed.

Every attorney is different in how they handle the fees.


lrhall41

Submitted by SUEBEEHONEY70 on Wed, 01/16/2008 - 04:42

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To file the Chapter 7 petition is $299, but there is the added cost of the counseling sessions, which is another $100.

All the rest goest to lawyer fees. If you filed on your own that would be your cost.

The courts do accept payments. You can file for as little as $50, and make payments to the court. But no lawyer will allow this because they need to money upfront, since most debts are discharged in a chapter 7.


lrhall41

Submitted by goudah2424 on Wed, 01/16/2008 - 07:57

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thanks ..... and how much time will it take to file and execute bankruptcy?


lrhall41

Submitted by anonymous on Wed, 01/16/2008 - 21:24

( Posts: 202330 | Credits: )