Fees Involved in Filing For Bankruptcy
There are 3 things that cost money when someone is filing bankruptcy. These are:
- Filing Fees – $335 in 2019
- Debtor Education Course – $15 with Walker & Walker’s special discount
- Attorney’s Fees – this varies depending on the complexity of the case.
Almost all bankruptcy lawyers will offer a free consultation for your case, and as you expect, they will be very candid about how much it will cost you and options you have to pay those fees. There is a set filing fee for the process itself and your lawyer will have a fee. You may think to go it alone, but you are setting yourself up for a huge headache and may even be sabotaging your bankruptcy case.
How To Pay For Bankruptcy When You Have No Money
You may be worrying about how you will keep the lights on and food on the table next week, so how to pay for bankruptcy is no exactly something you want to worry about. However, it needs to be done so you can begin to set your finances right again.
The obvious answer is to borrow money or use your tax refund in order to file. These are good options, but you may not always have them. So if you do not, here is what else you can do.
Payment Plans
The most expensive part of filing for bankruptcy is typically the attorney fees. Yet it would be pretty silly of any bankruptcy attorney to expect you to pay their fee upfront. Most will offer you an affordable payment plan that begins once the bankruptcy case is closed. There are also options to pay the filing fee in installments as well. It is as simple as filling out a form and paying in four payments within 120 days after filing. As for the mandatory education course, they are usually around $50, so it won’t break the bank.
Waived Fees
In certain circumstances, you may be able to get the filing fees for Chapter 7 bankruptcy waived by the courts. In order to qualify for this, you must have a combined family income of less than 150% of the poverty line. The court will mail you if you qualify for the waiver.
Stop Paying Your Creditors
If you have been to your free consultation and have finally gotten serious about filing for bankruptcy, you need not keep paying your creditors. Obviously you want to keep paying utilities and any mortgage you have, but that credit card payment can fall to the wayside. This can help you start the process, which will put an automatic stay on your debt. This means that creditors cannot harass or collect from you. In essence, stopping payment on non-essential debts can help you save up to get the ball rolling on the process.
Need Help? Contact Walker & Walker Today!
Have you had enough of creditors calling and bills you don’t know if you can pay every month? It may be time to investigate bankruptcy and how it can help you get the chaos in your life under control. Contact us today to see what Walker & Walker Law Offices can do to help you get started with and get through the bankruptcy process.
