Information from Tampa Bankruptcy Lawyers on How Much it Costs to File Bankruptcy
Serious financial troubles may have forced you to consider filing for bankruptcy as a way to wipe the slate clean and get a second chance. Unfortunately, this process is not free. As any Tampa bankruptcy lawyers will tell you, the fees for filing bankruptcy are exactly the same anywhere in the nation, but this cost and any attorney fees will certainly be worth it in the long run as you rebuild your credit and financial freedom after a bankruptcy.
The fees for filing bankruptcy can vary depending on which chapter you are filing for. As a reminder, here are the chapters of bankruptcy:
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Chapter 7 bankruptcy – known as a "liquidation" bankruptcy, this chapter requires you to sell certain non-exempt property in order to raise money to pay your debts.
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Chapter 11 bankruptcy – this chapter is typically used by businesses facing financial issues that need to reorganize their finances.
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Chapter 12 bankruptcy – Chapter 12 bankruptcies are reserved for individuals whose debt has arisen due to the operation of a family farm.
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Chapter 13 bankruptcy – in this form of bankruptcy, you must make enough of a reliable income in order to adhere to a repayment plan that will be agreed upon as part of the proceedings. This payment plan will require you to repay all or parts of your debt over 3-5 years, depending on your income, expenses, and other factors.
In addition to filing fees, you'll have to pay for your Tampa bankruptcy lawyers to handle your case, and potentially some credit counseling classes. However, there are several possible arrangements that can be made to pay the costs associated with filing for bankruptcy, including installment plans, and redirecting money you would have used to pay creditors to cover attorney and filing fees.
Each case is different, but the Tampa bankruptcy lawyers at Yesner & Boss, P.L. can answer all your questions about filing for bankruptcy, including how much it will cost you. Contact us today to set up a free consultation and learn more.
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