Bankruptcy Filing Fees
Just like as any court appearance, filing for bankruptcy requires a certain amount of court fees and payments. Typically, these payments must be paid to the clerk of the court once you file for bankruptcy. In certain situations the debtor may be able to, if allowed by the court, to pay these fees in installments. Although, the court limits the number to four installments and the final installment must be paid within 120 days after filing for bankruptcy. Once again the court may extend your payment period, but the extension will be no longer than 180 days before the fees must be paid in full.
Depending on the type of bankruptcy you are filing for, the total amount of these fees will differ. If you are filing for a Chapter 7 bankruptcy case, the total amount of fees will amount to $299. This includes a $245 statutory filing fee, $39 administrative fee, and a $15 trustee fee. If you file for a Chapter 13 case, the total amount of fees will be $274. This includes a $235 statutory fee and a $39 administrative fee. On the other hand, a Chapter 11 filing fees will total $1,000. Because of a drafting error in the Deficit Reduction Act, Congress was unable to raise the total fees up to $2,750.
Although, if your income is less than 150% of the poverty level, or if you are unable to pay the fees, the court may waive the bankruptcy fees. But for this exemption to occur you must fall under strict guidelines under the Bankruptcy Code and only the court may allow the fees to be waived.
So if you are tired of creditors calling you for payments, contact us today and let us help you get back on the right path towards a new financial future!
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