How Much Does it Cost to File Chapter 7 or Chapter 13 Bankruptcy in Pennsylvania?

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How Much Does it Cost to File Chapter 7 or Chapter 13 Bankruptcy in Pennsylvania?

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How Much Does it Cost to File Chapter 7 or Chapter 13 Bankruptcy in Pennsylvania?

It is understandable to be concerned about the cost of bankruptcy if you are considering filing.  However, you should not let fears about bankruptcy’s costs prevent you from exploring your options.  While bankruptcy is not free, most people find that the associated expenses and filing fees are negligible compared to the debt relief and other financial benefits that bankruptcy in Pennsylvania can provide.

If you or one of your loved ones is concerned about foreclosure, has resorted to using credit cards to cover daily necessities, or simply needs help managing debts which have grown overwhelming, bankruptcy may be an appropriate strategy for solving financial problems and regaining control of your life.  To learn more about the benefits of filing for Chapter 7 or Chapter 13 bankruptcy in Pennsylvania, please do not hesitate to contact Sadek & Cooper Law Offices at (215)-545-0008 for a free and completely confidential legal consultation.

What Are the Bankruptcy Court Filing Fees for a Chapter 7 or Chapter 13 Case in PA?

Most individuals file for either Chapter 7 bankruptcy or Chapter 13 bankruptcy.  Chapter 7 bankruptcy is a relatively speedy process in which a court official called a trustee sells of some of your property in order to help repay your debts.  Chapter 13 bankruptcy is a lengthier, more complicated process in which filers may keep more of their property in exchange for creating a three- to five-year repayment plan with their creditors.  A bankruptcy attorney in Pennsylvania can help you determine which type of bankruptcy is right for you.

Like Chapter 7 cases, Chapter 13 bankruptcies also have filing fees and administrative fees.  However, there is no trustee surcharge fee in a Chapter 13 case.

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How Much Do Credit Counseling and Debtor Education Classes Cost?

In addition to the court-related fees listed above, there are also some additional expenses associated with:

  • Completing the mandatory debtor education and credit counseling components of bankruptcy.
  • Hiring an attorney to handle your bankruptcy case.
  • Obtaining a credit report.

You can obtain a free copy of your credit report from each of the three major credit bureaus – TransUnion, Equifax, and Experian – once every 12 months, and the cost for an additional copy is low.  According to the Consumer Financial Protection Bureau, which is an agency of the federal government, “By law, a credit reporting company can charge no more than $12.00 for a credit report.”

Attorney Fees for Bankruptcy Lawyers in Philadelphia, Bucks, and Delaware County

Most people who are considering bankruptcy will at some point ask themselves whether hiring a Pennsylvania bankruptcy lawyer is “really worth it.”  For your own financial protection, it is vital that you are represented by a skilled and experienced attorney.  Even Chapter 7 bankruptcy, which is the simplest form of consumer bankruptcy, can be very complex, and any omission or error could set your case back considerably – potentially even leading to the dismissal of your case.

Simply consider the following quote, which is taken directly from the website of the U.S. Courts: “Filing personal bankruptcy under Chapter 7 or Chapter 13 takes careful preparation and understanding of legal issues.  Misunderstandings of the law or making mistakes in the process can affect your rights.  Court employees and bankruptcy judges are prohibited by law from offering legal advice.”  Further, “[S]eeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes.”

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Ultimately, the cost of foregoing legal representation is likely to be far greater than the cost of hiring an attorney to assist with your case.  This is especially true if you are considering Chapter 13, which involves a complicated, long-term reorganization or repayment plan to which you are expected to adhere rigidly.

If you are struggling to get your finances under control, bankruptcy can help eliminate debt, stop creditor harassment, delay foreclosure and repossession, position you to start building better credit, and offer other benefits.  To talk about Chapter 13 or Chapter 7 bankruptcy in Pennsylvania, call Sadek & Cooper Law Offices at (215)-545-0008 for a free and confidential legal consultation.

 

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