Bankruptcy Court Filing Fees
The last thing you need to worry about if you are considering bankruptcy are even more debts. However, in order to file for bankruptcy, you will need to pay certain fees to the bankruptcy court to process your case. Below, we will help you learn about these fees and how an experienced bankruptcy attorney can help you through the bankruptcy process.
Deciding to File For Bankruptcy
If you are considering filing for bankruptcy, you may need to pass a “means test” which is a set of calculations that will determine if you have enough disposable income left over at the end of the month to pay your outstanding debt. This means test is required if you want to file for Chapter 7 bankruptcy. Passing this means test will mean that many of your debts will be discharged (eliminated) by the bankruptcy court, and you will be given a financial fresh start. Making the decision to file for bankruptcy is not easy, and certain debts such as child support payments and student loans will not be discharged.
If you make the decision to file for Chapter 13 bankruptcy, most of your debts will not be discharged, but you will be able to reorganize your debts in such a way that you are able to make the payments spread out over several more years. Talking with an experienced bankruptcy attorney can help you decide if filing for bankruptcy would benefit you in your unique circumstance.
Bankruptcy Court Filing Fees
If you make the decision to file for bankruptcy, there are court filing fees that will need to be paid in order for the bankruptcy court to process your bankruptcy case. Chapter 7 bankruptcy filing fees are $335.00 and Chapter 13 bankruptcy filing fees are $310.00. On top of these fees, there may be additional fees to file specific motions with the court, or certain complaints with the court. An experienced bankruptcy attorney will be able to help you understand and estimate the fees that will be required for your bankruptcy case.
Attorney Fees
In some cases, the Bankruptcy Trustee will object to the valuation that a debtor placed on a piece of property. These types of disputes will be heard before a judge. Additionally, some bankruptcy proceedings are simply complicated due to their very nature of dealing with multiple financial transactions over several years. In other cases, there may be objections from creditors that need to be handled appropriately in a 341 meeting. If a bankruptcy is not handled correctly, a bankruptcy case may be dismissed for such reason as failing to file documents correctly at the proper time. Therefore, while an attorney will charge fees for their services, you will be purchasing the protection of knowing that your bankruptcy documents are being filed correctly, in a timely manner, and according to the requirements under the law so that you receive the full protection of bankruptcy. Attorneys minimize the risk of any incorrect legal actions affecting your case negatively.
Contact Us Today for Assistance
Our West Palm Beach bankruptcy attorneys at Kelley Kaplan & Eller can help you understand how you can benefit from a Chapter 7 or Chapter 13 bankruptcy, and help you understand the costs associated with filing for bankruptcy. Contact us today at 561-264-6850 for a consultation.
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