How Much Does Bankruptcy Cost?
Most people do not fully understand the cost of filing bankruptcy. In order to successfully file chapter 7 or 13 bankruptcy you will need to pay for several expenses. Some of these expenses are mandatory while others are optional. To learn more about the cost of filing bankruptcy with Sacramento Law Group call our office.
How much does a Sacramento bankruptcy attorney cost? Find out at http://sacramentobankruptcylawyer.us/how-much-cost and attend a free phone consultation to find out exactly how much your bankruptcy will cost.
Most prospective clients are unaware that the bankruptcy filing fee is several hundred dollars. Some unsuspecting clients are caught off guard by this expense as, many bankruptcy attorneys exclude this filing fee from their quote. The filing fee for chapter 7 bankruptcy cases in Sacramento is $306. (Update: the filing fee has increased to $335). The $306 chapter 7 filing fee is a total of the $245 chapter 7 filing fee, $46 administrative fee, and $15 chapter 7 trustee fee. The filing fee for chapter 13 bankruptcy cases in Sacramento is $281. The $281 chapter 13 filing fee is a total of the $235 chapter 13 filing fee and $46 administrative fee. In chapter 13 bankruptcy the trustee’s compensation will come out of a percentage of the plan payments; consequently, the trustee’s fee is not represented as a flat fee in the total chapter 13 filing fee like it is in the chapter 7 filing fee.
Obtaining a credit report before filing for bankruptcy is not required, but it is strongly recommended by our bankruptcy attorney. A professional 3 source credit report will list many of your creditors along with their addresses. This information is vital in ensuring that your creditors receive notice of your bankruptcy filing. If a creditor does not receive notice of your bankruptcy their claim may not be discharged. Hence, obtaining a $50 professional credit report is well worth the money.
Before you can file for bankruptcy you will have to obtain credit counseling from an approved agency. The cost of obtaining credit counseling is approximately $40 and should only take approximately an hour of your time. After filing for bankruptcy you will have to take a financial management course which will also cost roughly $40.
Bankruptcy attorney fees
If you file on your own you will not have to pay a bankruptcy attorney. However, if you do hire a bankruptcy attorney you will have to pay some amount in attorney fees. The amount varies widely between Sacramento bankruptcy attorneys and can be as little as $500 to over $4,000. The difference in cost correlates to the quality of the service you will receive, so don’t go with the cheapest bankruptcy attorney in Roseville.