What are the fees and costs associated with Chapter 13 Bankruptcy?

In Virginia, the fees and costs associated with filing for Chapter 13 bankruptcy can vary depending on the individual case. Generally, there will be a filing fee, attorney’s fees, court costs, and trustee’s fees. For filing a Chapter 13 petition, the court charge is $281. Attorney’s fees vary depending on the complexity of the case and the attorney. Generally, these fees range from $1,000-$2,500. The trustee’s fees are generally a percentage of the debtor’s payments to the trustee and usually range from 10-15%. Other possible costs include credit counseling, financial management seminars, and appraisal fees. When filing for Chapter 13 bankruptcy, individuals should consider not only the cost of the fees, but also the potential long-term savings. For many, the fees associated with filing for Chapter 13 bankruptcy are much lower than the interest and late fees associated with trying to pay off debts without the help of bankruptcy. Bankruptcy can help individuals get back on their feet financially and begin to repair their credit. Although there is an associated cost to filing for Chapter 13 bankruptcy, it may provide a more affordable option in the long run.

Related FAQs

What are the fees and costs associated with Chapter 13 Bankruptcy?

Related FAQs

Related Blog Posts