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How Much Does It Cost to File for Bankruptcy?

Published November 7, 2023 by Sasser Law Firm
How Much Does It Cost to File Bankruptcy?

If you’re considering filing for bankruptcy, you may have many questions. You might wonder, how much does it cost to file bankruptcy? Depending on the type of bankruptcy and the attorney you choose to handle your case, various costs are associated with filing for bankruptcy. We recognize the financial strain you face and want you to know the fees and other potential costs of filing for bankruptcy in North Carolina.

Bankruptcy Filing Fees & Court Costs

The bankruptcy court requires individuals filing for bankruptcy to pay filing fees. The costs for filing under Chapter 7, Chapter 11, and Chapter 13 are as follows:

  • Chapter 7 — The total cost is $338, which includes a filing fee ($245), an administrative fee ($78), and a trustee fee ($15).
  • Chapter 11 — The total cost is $1,738, which includes a filing fee ($1,167) and an administrative fee ($571).
  • Chapter 13 — The total cost is $313, which includes a filing fee ($235) and an administrative fee ($78).

Individuals filing for bankruptcy must also take mandatory credit counseling and financial management classes. The fees are $37 for Chapter 7 and $25 for Chapter 11 and Chapter 13.

Average North Carolina Bankruptcy Attorney Fees

Hiring an attorney to help you file for bankruptcy can give you peace of mind, but remember to account for attorney fees when choosing a lawyer. The bankruptcy lawyer’s cost will vary depending on your income and which type of bankruptcy you’re filing.

Here are the average attorney’s fees for bankruptcy in North Carolina:

  • Chapter 7 — For those making less than the median income level, the attorney fee is $1,225. The fee is $1,925 for those making more.
  • Chapter 11 — The attorney fee ranges from $10,000 to $25,000.
  • Chapter 13 — The attorney fee is $6,500.

The median income levels are based upon review of household income for the prior 6 months For a 1 person household the median income is (based on November 1, 2023 figures)  $59,367.00, for a 2 person household the median is $75,315.00, for a 3 person household the median is $86,408.00, for a 4 person household the median is $105,257.00, for a 5 person household the median is $115,157.00 and for a 6 person household the median is $125,057.00.

What If You Can’t Afford the Filing Fees?

You’re already in a difficult financial situation, so paying filing fees might be overwhelming. Luckily, there are payment options to relieve the stress you face as you file for bankruptcy. For instance, for Chapter 13, a payment plan is available that eliminates any upfront costs associated with filing.

Under this plan, you pay nothing before filing for bankruptcy. Instead, you receive an advance of the $313 filing fee and the $25 credit counseling fee. Furthermore, the $6,500 attorney fee is paid through your Chapter 13 trustee.

If you have concerns about the financial costs of filing for bankruptcy, an experienced bankruptcy lawyer can answer your questions and put your mind at ease.

Call Sasser Law Firm for a Free and Confidential Consultation

With over 20 years of experience practicing entirely in bankruptcy law, the attorneys at Sasser Law Firm are prepared to take on time-sensitive and challenging cases. With three board-certified bankruptcy specialist attorneys on our team, we have the resources and knowledge to handle claims for individuals and businesses. Our bankruptcy lawyers want what’s best for you and will never pressure you to file. Contact our office today for a free, confidential consultation.

At Sasser Law Firm we offer $0 money down for Chapter 13. The article made it sound like $0 down was the norm and it is not. So we want to emphasize that $0 upfront is what we offer.

This article was previously published in January 2021 and updated for relevance in November 2023.

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