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How Much Does Bankruptcy Cost?

Types of Bankruptcy and Their Costs

The cost of filing for bankruptcy depends on several factors, including the type of bankruptcy in question and the amount of debt involved. The vast number of specifics involved in any given bankruptcy filing means no two are alike. The bankruptcy courts do, however, charge a specific filing fee depending on the type of bankruptcy: a Chapter 7 costs $335 and a Chapter 13 costs $274. An attorney at the firm can look over the details of your particular case and give you an idea of the costs that will be involved. These tend to be affordable but in any case, are insignificant in relation to the tremendous financial freedom you achieve with the bankruptcy itself.

Another aspect of bankruptcy which increases its value to your financial health is the matter of your credit rating. Although it will be recorded on your credit, individuals considering filing for bankruptcy are usually at great risk damage to their credit rating if this has not already occurred. Filing for bankruptcy actually places you in a better position to immediately begin the action of credit repair and if the matter is addressed correctly, you should see an improvement within a few years.

Talk to the Professionals!

Seeking to petition for bankruptcy without professional legal advice is a very risky prospect. Too many individuals have tried this and unfortunately made errors or omissions which ultimately place them in a worse financial position than when they began the bankruptcy process. If you are considering bankruptcy, talk to an attorney from Price Law Group, who can help you determine the best avenue for you, what it will cost and how to successfully execute the needed actions.

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