How much does it cost to file bankruptcy?
The filing fee for a Chapter 13 Bankruptcy is $310.00. Attorney fees depend on the difficulty of the case and the attorney you chose. Typically in Central Ohio an attorney will charge $3,500.00 for a Chapter 13 Bankruptcy. This is because the Court has set this fee as a “no look fee”. In other words an attorney is allowed to receive this amount of money without itemizing their time. An attorney will typically take a portion of that money prior to filing, and include the balance in your ongoing monthly Chapter 13 payment.
For example an attorney could charge their client $1,000.00 in attorney fees prior to filing, and receive the balance of $2,500.00 over the next year from the payments you make to the Chapter 13 trustee. You would be required to pay your attorney $1,281.00 prior to filing.
The filing fee for a Chapter 7 Bankruptcy is $335.00. Attorney fees for Chapter 7 Bankruptcy vary greatly depending on the difficulty of the case. Factors you should consider when determining what are of the spectrum you fall on include such things as:
- Whether or not you are self-employed
- Whether or not you have filed all of your tax returns
- How many assets you have
- How much debt you have
- Whether or not you are filing jointly (married couple) or as an individual
- What your intentions are in regards to your assets. (Surrender, Reaffirm, Redeem)
Please contact me for a free consultation to determine how much your case will cost you.