Bankruptcy costs are a concern for consumers for sure. Anyone wanting to file for bankruptcy is already in dire financial straits. Therefore, any additional costs are not easy to come up with. So if you're considering filing for bankruptcy in California, you are going to want to know the average cost for the state and your local area. Naturally, this is going to be dependent upon which bankruptcy filing you, pursue chapter 13 or chapter 7.
Do you plan on filing bankruptcy on your own, or do you plan to use an attorney? Most people use an attorney and need to consider all of the forms and laws surrounding the matter. However, when breaking down the costs for filing for bankruptcy, you are going to see the itemization and then the overall costs involving an attorney. Just to let you know ahead of time, it's enough to make you want to try to file bankruptcy on your own.
Experts do not recommend that California residents file bankruptcy on their own, though. That is one easy way to get yourself in a bunch of hot water. If you were confident in your abilities to fill out the forms and handle the legalities and courts, go for it. Aside from that, you are back to deciding which bankruptcy filing you are shooting for. Are you going to file chapter 7 or chapter 13?
Once you have made the decision, you can begin looking at the overall cost associated with filing for bankruptcy. When using a lawyer and filing for chapter 7 bankruptcy, the overall cost can be as low as 1500 dollars. However, they can be as high as 3000 dollars on average. Now let's take a look at how much it costs to file for chapter 13 bankruptcy.
The minimum average cost for filing chapter 13 bankruptcy with an attorney is going to be approximately 3000 dollars. Filing for chapter 13 bankruptcy can cost as much as 4000 dollars on average. That is the range you're looking at for both filings. And now you can make a decision not based on how much you would pay but based on your individual financial circumstances.
The bankruptcy cost in California might seem a little bit steep. Just remember that you can entertain your own filing if you would like to handle things that way. There are going to be little fees here and there, but let me give you the basic quote for just the filing itself. Let's say you were going to file for Chapter 7 or Chapter 13 bankruptcy on your own. For either one of those bankruptcy filings, the average filing fee is just over 300 dollars.
As mentioned, there will be other small fees here and there, but that is what you can expect for filing fees. Make sure you have all your ducks in a row and are ready to sit down for a consultation with a bankruptcy attorney to discuss your bankruptcy cost in California and how to move forward.
