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The Costs of Bankruptcy

bankruptcyCostsPerhaps the biggest cost involved in bankruptcy is the emotional one, but there are also financial costs that are required if you’re planning on filing for bankruptcy. When you’re already dealing with a bankruptcy situation, the last thing you want to think about is expenses but there are some you will need to pay for if you’re looking to start with a clean slate.

The first fees that you’ll likely be required to pay for are the court fees which are $335 and $310 for Chapter 7 and Chapter 13 bankruptcy, respectively. If your bankruptcy case is a complex one you’ll also want to consider hiring an attorney.  The price for your attorney will vary based on the case complexity and the attorney’s fees which could be charged hourly or as a flat rate. Be aware of this as you move forward and don’t always settle for the cheapest attorney as this could mean that they have less experience.

Other costs you may be required to pay for could include the debtor education course and/or counseling certificate you’ll be required to take as part of your bankruptcy filing. These courses usually cost about $30 to $50 but they may vary. Real estate appraisals are also something to take into account.

These financial tips are provided to you by Fort Lauderdale bankruptcy attorney Bigge & Rodriguez, P.A.  If you need a Fort Lauderdale bankruptcy lawyer or have questions about Chapter 7 or 13 bankruptcy, call 954.400.7322 to speak with us.  We also specialize in foreclosure defense.