How Much Does it Cost to File Bankruptcy?

                                     How Much Does it Cost to File Bankruptcy?

                                                    
            
            Bankruptcy costs include three basic components:   
                               (i) The filing fee due to the court, 
                               (ii) the costs associated with third party reports and searches, and 
                               (iii) attorneys’ fees.

The first cost, which is the filing fee due to the court is either $306 for a Chapter 7 Case or $281 for a Chapter 13 Case.    These costs are set, but a filing debtor can elect to pay in installments or even to have some or all of it waived in extreme situations.

The second cost includes the bankruptcy classes which you are able to take online. (Click here for an approved list of providers in Georgia).  One class, the debtor pre-filing counseling course, is required before you file, and usually costs around $25.   The other class, the debtor education course, must be taken before you get your bankruptcy discharge. This is usually around the same fee.  

 In addition to these fees, a careful and diligent law firm (like we are at The Slomka Law Firm) will run asset searches and judgment lien searches to make certain that your bankruptcy filing includes all debts and discloses all assets.   These searches also add costs to the process, but are paid by our law firm as part of the fee.   These third party costs also include mailing, postage and service costs for all of the papers we must deliver to all of the creditors and parties associated with your case.

Finally, your attorney is entitled to attorney’s fees for the time to prepare the case, represent you in court, attend hearings, contact creditors and trustees, and to do all other work required to get your discharge.    In most cases the attorneys' fees will run in the neighborhood of $1,000.  At The Slomka Law Firm, we allow the fee to be paid over time and we are open to favorable payment plans.

In most cases, with typical debts and creditors, a client can expect to spend about $1,800.00 (certain costs additional) for the total of all of these costs to get the full bankruptcy discharge.  Some cases are more and some are less, but I invite all clients to come visit so we can fully and openly explain the process and all costs.

References: http://www.slomkalawfirm.com/Chapter-7-Basics/Cost-of-Chapter-7.shtml
http://www.justice.gov/ust/eo/bapcpa/ccde/CC_Files/CC_Approved_Agencies_HTML/cc_georgia/cc_georgia.htm
http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyResources/JCUSinterrimProcedures.aspx