Like any other legal process, bankruptcy will cost money. However, you should not let cost get in the way of beginning a process that could help you get a fresh start or some breathing room to pay your debt. Nonetheless, you should understand the costs when considering bankruptcy.
The first thing to know is that there is a court fee to file for bankruptcy. The court fees for both Chapter 7 and 13 bankruptcies are set at just over $300. These can be paid in installments since many people filing for bankruptcy do not have liquid assets to pay at once.
Bankruptcy Attorney’s Fees
The next fee is for hiring an attorney to help with your bankruptcy. We understand that the prospect of paying anything when you are experiencing financial difficulties is scary. The extent of your attorney’s fee will depend on the type and complexity of your bankruptcy case. More routine bankruptcies with little assets will cost less. Many lawyers handle your bankruptcy on a flat fee basis.
You should not be put off from filing for bankruptcy because it costs money. The cost to you of not filing for bankruptcy is even higher. You will be stuck in debt for a lifetime and fending off creditors who want to be paid. The Chapter 7 legal fees must be paid before the bankruptcy, but a lawyer would work with you on a payment plan for a Chapter 13 filing.
Bankruptcy Lawyers in Georgia
Do not rule out the prospect of bankruptcy until you speak with an attorney. Call the attorneys at Moffitt Law LLC at (762) 212-3951 or contact us online to learn if bankruptcy is the best option for you.
Is Chapter 7 or 13 bankruptcy better for me?
It depends on your assets and earnings and whether you need discharge or just some extra time.
How can a lawyer help with my bankruptcy?
Your lawyer will assist with the paperwork and represent you in front of the judge.
Do I need a lawyer for my bankruptcy?
You are not legally obligated to have a lawyer, but it certainly helps avoid unforeseen challenges.