How Much Does A Chapter 7 Bankruptcy Cost?
If you are considering filing chapter 7 bankruptcy, the main question you want answered is how much does a chapter 7 bankruptcy cost. Below I will outline the basic fee structure for Chapter 7 Bankruptcy.
Credit Counseling Course(s)
In order to file chapter 7 bankruptcy, you must take a pre-filing credit counseling course. This course can be taken online or in person at HCCI in Topeka. The cost for credit counseling can vary from about $15 to $50. You will also need to take a post-filing credit counseling course. The cost is generally about the same as the first course.
It is not absolutely necessary to pull a credit report before you file bankruptcy, but it is a good idea and I strongly recommend it. Your credit report may have items still showing up you forgot about. A credit report is not perfect, and in fact, many contain errors, but it is an excellent starting point. AnnualCreditReport.com will allow you to pull all 3 credit bureaus once per year for free. A good free alternative is to sign up for CreditKarma which will allow you access to 2 of the 3 credit bureaus (Equifax and TransUnion). You can also pay for an Experian credit report.
To file a chapter 7 bankruptcy, you must pay a $335 filing fee. A fee waiver is available if you make within 150% of the poverty level for your household size.
Attorney fees vary depending on the complexity of your case.
Low Fee Cases $700 – $800
- Kansas Legal Services offers low fee Chapter 7 Bankruptcy
- Usually reserved for Debtors with low household income or who are on fixed income like Social Security or Social Security Disability
- You don’t get to pick your attorney – one will be assigned to you
- You must still pay for the $335 filing fee and credit counseling course
Below Median Cases $1,600 – $1,900
- If you are below median
- If the issues you face are mostly credit cards, medical bills, payday loans, collections, etc
- If the assets or property you have is exempt with maybe a few non-exempt assets with little to no value
Below Median Cases $1,900 – $2,200
- If you are below median
- If the issues you face are more complex:
Above Median Cases $1,900 – $2,500
- If you are above median there is significant time and cost for the extra work needed to qualify for Chapter 7 bankruptcy
No Two Bankruptcies Are Alike
No two bankruptcies – even with seemingly identical facts – are completely alike. Bankruptcy in Kansas can be relatively smooth and uncomplicated. Often times at least one complicated matter arises that demands the support of a skilled and experienced Kansas Bankruptcy Lawyer.
Bankruptcy is often more complicated than many people realize. You are much more likely to get the results you want with the help of a good chapter 7 bankruptcy attorney.
How Much Does A Chapter 7 Bankruptcy Cost? If you have questions about what a Chapter 7 Bankruptcy will cost you, please give us a call at email us now.for a FREE Consultation over the phone or in person or you can