Cost of Chapter 7 Bankruptcy

Cost of Chapter 7 Bankruptcy

The cost of Chapter 7 bankruptcy depends on how complex the case is and the projected amount of time the attorney anticipates the case will require. You will be given a firm quote at your consultation. The average Chapter 7 bankruptcy attorney fee is about $2,000. We offer affordable payment plans. There are also costs, including:

• Court filing fee – $338. The filing fee can be waived if your income is below a certain level. It can also be paid in installments.

• Credit counseling courses. The average cost is $40.00.

Factors determining the amount of work needed:

• How much your income is and whether you will be required to include a detailed means test.
• Creditors – number and type of creditors.
• Assets – number, type and complexity of valuing assets.
• Non-dischargeability issues. Creditors can object to their debt being discharged (forgiven) based for specific reasons, such as fraud. In come cases, creditors may object to a debtor getting a discharge of any debt.
• Preference or fraudulent transfer issues. Certain transfers of property can be set aside by the Trustee. You can raise defenses to this. Some fraudulent transfers may result in denial of your bankruptcy discharge.
• Reaffirmation agreements required. Secured debt, such as your home mortgage and car loans must be reaffirmed.
• Lien avoidance – Whether any debts are secured by a voidable lien, requiring a court order to void a lien. This may be necessary if you have a judgment recorded in a county where you own real estate.
• Tax debt – extent and complexity.
• Business issues – cases involving business issues frequently require more time and analysis.

At Cross Stone Law, each case is priced individually based on the amount of work needed to give the most relief. If you are going to file bankruptcy, you want all of relief available. We are not a high volume bankruptcy mill. Bankruptcy Attorney, Carol Cross Stone, personally handles each case. We return phone calls and emails promptly. We strive to give excellent service and personal attention at an affordable cost. We definitely understand that most people who need to file bankruptcy are cash-strapped. These costs can be paid all at once, or over time in a payment plan. We will work with you to help you get relief.