How much does bankruptcy cost?
There are generally three fees you have to pay to file bankruptcy: your attorneys fees, the court filing fee, and the credit counseling fee. The filing fee for a Chapter 7 is currently $299 as of 5/13/07, the credit counseling fee (which you pay to an online credit counseling provider to get a certificate required for filing bankruptcy) costs from $35 to $75 (go as cheap as you can find, there is no difference among the providers), and the attorneys fees average around $1,500 across the country but vary from region to region and from case to case depending on the complexity of the case. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
The cost will depend on which type of bankruptcy you are filing. It costs less to file chapter 7, between $950 - $1,400. Expect to pay your attorney more if you are filing chapter 13: around $1,800 to $2,400. Most lawyers will offer a free consultation where they will talk about how much they charge.
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