How Much Does Bankruptcy Cost?
We’ve prepared this comparison chart so you can get a general idea of the major differences between Chapter 7 and Chapter 13. Every case is unique. When we meet with you, we’ll discuss your situation and make a recommendation based on your income, debts, assets, etc. The Bankruptcy Code is complex, and you need an experienced attorney like Robert Russell to help you navigate the nuances and avoid problems with your case.
| Chapter 7 Basic or Single Joint Case |
|---|
| $700 |
| + $335 Bankruptcy Court Filing Fee |
| Flat fee (based on the complexity of your circumstances) |
| Complete debt elimination |
| Most assets are exempt |
| Done in about 90 days |
| Usually the best option for most people |
| Payment Plans available for attorney’s fees |
| You will also be required to complete credit counseling ($0-$30) |
| Chapter 13 Basic or Single Joint Case |
|---|
| $1,300 |
| + $310 Bankruptcy Court Filing Fee |
| Debt consolidation and repayment plan |
| 9 months to 36 months |
| Based on your income and expenses |
| A great way to deal with mortgage arrears |
| Good debt relief option for wage earners |
| No upfront cost – attorney’s fee included in Chapter 13 Plan |
| You will also be required to complete credit counseling ($0-$30) |
