How much does it cost to file for bankruptcy?

If you live in Massachusetts and are considering filing for bankruptcy, it is important to understand how much it costs to do so. The cost of filing for bankruptcy varies depending on a few factors, including which chapter of bankruptcy you file under. Chapter 7 bankruptcy is the most common form of bankruptcy for individuals, and the cost for filing is $338. This amount covers the filing fee, a credit counseling class, and an online certificate to prove that you have completed the counseling. The cost for filing Chapter 13 bankruptcy is substantially higher at $310. This fee covers the same things mentioned above, plus an additional fee for the trustee’s services. However, it is important to note that there may be additional costs associated with filing for bankruptcy, such as attorney fees, credit reporting fees, and other administrative costs. In addition, if you are filing for bankruptcy you may be required to attend a financial management education course. The cost for this course is typically around $50. Overall, the cost of filing for bankruptcy can quickly add up. It is important to consider all of the associated costs before making a decision about whether bankruptcy is the right choice for you.

Related FAQs

Are there any special provisions for filing for bankruptcy as a business?
What debts are dischargeable in bankruptcy?
How do I fill out the bankruptcy forms?
How will filing for bankruptcy affect my credit score?
What is the difference between a bankruptcy trustee and a bankruptcy lawyer?
How do I know if I am eligible for Chapter 7 or Chapter 13 bankruptcy?
Can I keep my car when filing for bankruptcy?
What is the role of the bankruptcy judge?
What is the difference between secured and unsecured debt?
Can I keep my home when filing for bankruptcy?

How much does it cost to file for bankruptcy?

Related FAQs

Related Blog Posts