How much does it cost to file for Chapter 11 bankruptcy?

Chapter 11 Bankruptcy Law in Minnesota allows businesses to reorganize their finances and come up with a repayment plan to creditors over time. The cost to file for Chapter 11 Bankruptcy is based on filing fees that are set at the federal level. The filing fee for Chapter 11 Bankruptcy in Minnesota is $1,717. This fee is due when you file your petition in court. In addition, there is also an administrative fee of $550 that must be paid to the court when filing your papers. This fee is due even if your case is eventually dismissed. If you cannot afford to pay the court fees upfront, you can ask the court to allow you to pay over time. You will need to fill out a financial affidavit to prove that you are unable to pay the filing fees all at once. It is important to remember that filing for Chapter 11 Bankruptcy is a serious matter and should not be taken lightly. It is strongly recommended that you seek the advice of an experienced bankruptcy attorney before filing. An attorney can provide specific advice about your individual circumstances and make sure that you are in compliance with the law. They may also be able to help you obtain the best possible repayment plan to creditors.

Related FAQs

How much does it cost to file for Chapter 11 bankruptcy?

Related FAQs

Related Blog Posts