How much does bankruptcy cost in America?

The cost for filing a Chapter 7 and Chapter 13 bankruptcy vary from state to state due to filling fees, legal fees and bankruptcy types.

COURT FILING FEES effective October 1, 2008 - Most States

Chapter 7 = $299.00. Basic liquidation for business and individuals. (the simplest and quickest form available).
Chapter 9 = $1039.00. For the resolution of municipal debts.
Chapter 11 = $1,039.00. Known as corporate bankruptcy. Reorganization allows companies (or individuals with substantial debts and assets) to follow debt repayment plans
Chapter 12 = $239.00. Family farmers and fishermen.
Chapter 13 = $274.00. Known as Wage-Earner Bankruptcy. Reorganization allows with a regular source of income to create a debt repayment plan.
Chapter 15 = $1039.00. International cases. Helps foreign debtors to pay off debts.
Adversary Proceeding - Unless filed by debtor in Chapter 7 or 13 = $250.00

Declaring Personal Bankruptcy

There are 3 different chapters individuals debtors may file under: Chapter 7 Liquidation, Chapter 11 Reorganization, and Chapter 13 Reorganization.

In order to change a Chapter 13 into a Chapter 7 bankruptcy case there's a 25 Dollars Conversion Fee.

Chapter 7 cases are 65% of all consumer bankruptcy filings in the US.

ATTORNEY'S LEGAL FEES

Legal Fees for Chapter 7 and 13 can cost from $1,000 to $3,000 or more. Other Chapters can cost substantially higher.

Some attorneys and law firms charge extra for obtaining credit reports, the credit counseling certificate, long distance phone calls, postage, mileage, parking, or some other expenses.

Always make sure that you'll be paying a FLAT FEE for the legal service. Also, ask if you can make payments if needed.

Alaska

Chapter 7 = $274
Chapter 13 = $189

BANKRUPTCY ATTORNEY

Bankruptcy Records Online

Bankruptcy List

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