What is the Cost of Bankruptcy
If you are dealing with too much debt and can no longer stay above water you may be considering bankruptcy. With that consideration comes the question of how much does it cost.
Our Baltimore bankruptcy attorney at 410law has handled numerous cases and can help shed light onto the cost of bankruptcy. While we cannot give a specific figure, here is some information that is helpful.
The bankruptcy court requires a $335.00 filing fee for a chapter 7 bankruptcy. Our Towson and Baltimore Bankrupty lawyer at 410law regularly refer to chapter 7 bankruptcy as liquidation because the debtor often walks away from most, if not all, of their debts. The legal fee that we charge for filing chapter 7 bankruptcies in Baltimore, Towson and throughout Maryland ranges from $1,300.00 for simple cases to $2,000.00 for complicated cases with several assets to deal with. For routine chapter 7 with no assets, such as a home, our bankruptcy law attorney at 410law.com charge $1,300.00.
The Baltimore bankruptcy court charges a $310.00 filing fee for chapter 13 bankruptcy. Our Baltimore bankruptcy attorneys at 410law will quickly tell you that this is also known as reorganization because the person filing bankruptcy pays back a percentage of what he/she owes. For chapter 13 cases, our bankruptcy lawyers charge anywhere from $3,500.00 and up depending on the facts of the case.
You are required to take two credit counseling related classes in connection with your case. The first is known as the pre-filing credit counseling and the second is the financial management course. The most affordable providers I know charge $10.00 per class. Competition in this area is intense and costs could go down even further. Other providers are above $3o.00 so shop around.
There are at least over 100 bankruptcy lawyers in the Baltimore area so reach out to a few of them and pick whoever you feel most comfortable with. I know most people I talk to often have either just spoken with another attorney or a going to.
For a free consultation and a specific quote depending on your particular needs please contact our Towson and Baltimore bankruptcy attorney at 410Law today. Email: email@example.com. Phone: 410-849-9529. Our Baltimore bankruptcy law firm is knowledgeable on bankruptcy law and will respond within 24 hours, if not instantaneously.
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