What Will It Cost To File Bankruptcy?
The costs to file for bankruptcy vary based on the chapter of the U.S. Bankruptcy Code selected to file under. Additional costs for legal representation can range from $500 to $3,000 for individuals to tens of thousands of dollars for small businesses and small business owners. Chapter 7
The case filing fee for chapter 7 is $220. There is also a $39 miscellaneous administrative fee, and a $15 trustee surcharge. Normally, the fees must be paid to the clerk of the court upon filing.
With the court's permission, however, individual debtors may pay in installments. The number of installments is limited to four, and the debtor must make the final installment no later than 120 days after filing the petition. If the debtor's income is less than 150% of the poverty level, as defined in the U.S. Bankruptcy Code, and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid.
Chapter 11
The case filing fee for chapter 11 is $1000. There is also a $39 miscellaneous administrative fee. Normally, the fees must be paid to the clerk of the court upon filing. Additionally, the debtor in possession must pay a quarterly fee which may range from $250 to $10,000 to the U.S. trustee for each quarter of a year until the case is converted or dismissed.
Chapter 12
The case filing fee for chapter 12 is $200. There is also a $39 miscellaneous administrative fee. Normally, the fees must be paid to the clerk of the court upon filing.
Chapter 13
The case filing fee for chapter 13 is $150. There is also a $39 miscellaneous administrative fee. Normally, the fees must be paid to the clerk of the court upon filing.
Where can I get legal advice about my Bankruptcy issue or case?
If you have a Bankruptcy Law issue or case and want legal advice for your specific situation, call the law firm below to schedule an initial consultation.
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