17 Aug How Much Does a Bankruptcy Cost?
It depends. This is probably the most common question asked when someone calls looking for information about bankruptcy law. Unfortunately there’s no easy answer – it just depends.
Three general factors go into the determination of the cost of a bankruptcy: first, the type of filing – Chapter 7 or Chapter 13 (or 11 or 12); second, where you are – prices and costs vary in different areas of the country; and third, the type of debts and assets you have – for example, even simple business bankruptcies are always more expensive.
The rate in California for a simple Chapter 7 filing is around $1,500-$2,500, and $3,500 for a simple Chapter 13. Remember that those numbers are for simple cases, and the cost will go up substantially depending on the factors listed above and on your income. It’s always best to find a competent Bankruptcy counsel to help with your specific situation.
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