How much does it cost to file bankruptcy? That’s an important question I get every day.

 Our Fees Are Very Affordable.

Click Here For Our Current Pricing for Chapter 7 and Chapter 13 Bankruptcy.

 What Do We Charge For Chapter 7 Bankruptcy?

We charge a fixed fee for Chapter 7 Bankruptcy which includes all Court costs and expenses. We include the cost of taking the on-line counseling courses and the costs to run a credit report. The fee has to be paid (or all of your payments must be made) before filing your case.  Click Here For Chapter 7 Bankruptcy Cost.

What Do We Charge For Chapter 13 Bankruptcy?

Chapter 13 Bankruptcy is quite a bit more work which can go on for months or even years.  But, the good news is—you don’t have to pay the fee in advance. Click Here For Chapter 13  Bankruptcy Cost.

Do you Offer Payment Plans?

Yes we do.  That’s the most common question we get when we are talking to someone about filing bankruptcy.  We understand finding the money to file is one of the biggest problems for most people.  We help by offering payment plans starting for as little as $100.

Where Do I Find The Money?

Most people simply don’t have the money when they need it.  Many times people are still making credit card payments or other payments to accounts that are going to be discharged in bankruptcy.  Once you decide you are going to file, any further money you pay a creditor is wasted money.  You are better off paying that amount toward your payment plan for our fees and put yourself in a position to file as soon as possible.  If you are already not making any payments,  a common approach is to borrow from friends and family at least some of the money to file.

 Recent Changes to the Bankruptcy Laws Made it More Expensive.

Since the Bankruptcy laws were amended in 2005, it has become more expensive to file bankruptcy.  The laws were designed (through extensive lobbying by credit card companies) to make it harder for many to discharge their debts through bankruptcy.

What’s the Average Cost To File Bankruptcy Nationwide?

The average cost to file for Chapter 7 bankruptcy protection, the most common form of consumer bankruptcy, is more than $1,500, according to recent research submitted to the National Bureau of Economic Research.

 How Do I Come Up With The Money To Pay For Bankruptcy?

Many people can stop paying their credit cards once they have made the decision to file bankruptcy.  This often frees up enough money to make payments for the attorney fee and Court costs.  Other people have to rely on friends or family to give them the money.  Still others wait until they receive their tax refund as a way to fund the cost.

The research submitted to the National Bureau of Economic Research, conducted by a group of professors from Columbia University, the University of Chicago and Washington University in St. Louis, examined how bankruptcy filings spiked after people received their tax rebates from previous years.They estimate that another 200,000 consumers, who would otherwise not have enough money to file, will use their tax refunds to pay for bankruptcy this year.

 Too Broke To File Bankruptcy?

In an article on CNNMoney, Jialan Wang, co-author of the report said: “For lots of people, bankruptcy has been taken off the table as an option because of the severe fees involved.”

Among those fees is a charge of about $300 just for filing the paperwork with the federal court, while the rest typically goes to bankruptcy lawyers, said Wang.

And there are other expenses on top of that, including fees for mandatory pre-bankruptcy credit counseling and a pre-discharge debtor education course. These average about $85 altogether, according to a recent study sponsored by the American Bankruptcy Institute.

That means many of the Americans who have seen their debt snowball out of control due to events like job loss, foreclosure or a medical emergency during the economic downturn are now left without their last financial lifeline, she said.

Todd Murphy is a bankruptcy lawyer with offices in Bedminster, NJ.  Call now! 862-217-2361