If you are planning to file court petition for bankruptcy, it is very important for you to consider certain factors. Filing bankruptcy cost is one of them. There are various components of the overall cost and in order to make things smoother, you must be aware of all those components. This article intends to give a brief description regarding the various aspects of bankruptcy cost.
Filing Fee
Obviously, the first component is the filing fee that you need to pay while filing for bankruptcy in the court. In the past few years, there has been a sudden rise in such cases that are filed in the various bankruptcy courts of America. The filing cost has also changed its form in these years. The filing fee, for example, has now risen to almost four times the amount you had to pay four years back. The filing fee is a substantial amount and you must keep it in mind while you are working on your budget.
Mesa Bankruptcy Lawyer, South Dakota Bankruptcy Lawyer, Massachusetts Bankruptcy Lawyer,
Bankruptcy Attorney Fee
When it comes to filing bankruptcy cost, the next big thing is the amount that you have to pay to the bankruptcy lawyers. Lawyers are very much concerned about their fee and even if they are your friends, you cannot expect them to handle the case for you free. You must be ready to pay a substantial fee to the attorney handling your case. You can save a lot of money in this regard by doing a thorough research in order to choose a cost effective attorney.
Conversion Fee
There are some aspects to consider while filing bankruptcy cost that are not essential, but you may have to face problems if you are totally ignore them if you are not very careful in dealing with the filing procedure. For example, sometimes it happens that you have applied for a chapter 7 bankruptcy, but the bankruptcy court later orders you to apply for the chapter 13 bankruptcy. In such a case, you will be required to pay a conversion fee. Therefore, it is very important for you to choose a competent and knowledgeable attorney - someone who is aware of the new bankruptcy laws. As per the new laws relating to bankruptcy in the United States, now it is mandatory for every debtor to pass a means test and go through a credit counseling process. The result of the means test and the suggestion of the credit counselor will play an important role in determining which type of filing process you should go for. Therefore, if you do not want to pay extra while you are filing bankruptcy cost like conversion fee, you must take every step as per the laws.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Memphis Bankruptcy Attorney
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment