You can’t afford to pay your bills. You are drowing in debt. Now that you have decided to file for bankruptcy protection, you are wondering how you are going to pay for the cost of filing for bankruptcy. Although there are some costs associated with filing for bankruptcy, remaining in debt will cost you far more in interest and delinquency payments in the end.
Fortunately, the actual court costs involved in filing are relatively low. A Chapter bankruptcy will cost you about $200-$300 in filing fees, depending on where you live. If you cannot afford the filing fee, the court may allow for the fee to be paid in installments. In some cases, the fee may be waived altogether. Bankruptcy fees for a Chapter 13 case will cost anywehere between $185 and $274. Unfortunately, you cannot have the filing fees waived for a Chapter 13 case. This is because your income was sufficient enough to warrant a bankruptcy repayment plan and not a total elimination of your debt through Chapter 7. If your income exceeds a specified amount, you would be deemed to have enough income to pay the court fee.
The costs for hiring an attorney can vary greatly by firm, city or state. The average cost for a Chapter 7 case can range between $1,000 and $3,000. Before you worry about the cost of the attorney, remember that there are attorneys that offer payment plans. When finding a bankruptcy attorney to handle your case, make sure you find one that undertands your financial situation and is willing to be flexible with payment options. There are many firns, large and small, that may not provide you with the support you need to make your payments.
Although you may file for bankruptcy and complete the process yourself, hiring a bankruptcy attorney can often make the process much easier. Among all of the paperwork that must be completed and filed with the court, you are also required to complete a debtor education course. An experienced bankruptcy attorney can manage the paperwork and court filings, as well as provide you with the resources you need to complete your debtor education course. A good bankruptcy attorney is your representative and should convey a sense of compassion and flexibility while managing your case.