“Expensive” is a relative term that depends on one’s unique financial situation, but the cost of bankruptcy is often less expensive than paying off unaffordable debt.
As time goes on, small debts can significantly grow to oversized proportions, turning what used to feel like a small pile of debt into an insurmountable mountain of debt. The worst part is that interest and fees can compound this debt, making it grow even more monstrous with each new month.
This is why so many people turn to bankruptcy for relief when they’re overburdened with consumer debt. Even if it isn’t free to file for bankruptcy, the cost of doing so – even when you factor in attorney’s fees – can be more manageable than a lot of people think.
How Much Does It Cost to File for Bankruptcy?
Costs to file for bankruptcy vary depending on the type of bankruptcy and any other paperwork that made be required.
For example, filing fees for Chapter 7 in Florida cost $338 while filing fees for Chapter 13 cost $313. Considering the debt relief that bankruptcy can bring, these filing fees can be a relatively small price to pay.
How Much Does It Cost to Hire a Bankruptcy Attorney?
A bankruptcy lawyer typically charges for their services according to the type of bankruptcy they’re asked to handle. Attorneys handling Chapter 7 cases may charge between $1,500 and $3,000 for their services while those who handle Chapter 13 cases may charge around $4,000 to $5,000 or more for their services. In a Chapter 13 bankruptcy, it is also possible to pay some, or all, of your legal fees through your bankruptcy.
Again, these can be affordable costs if it means achieving significant debt relief. That’s possible when you work with attorneys like ours at Buchalter & Pelphrey Attorneys At Law.
We Offer Free Consultations to Get Our Clients Started
We at Buchalter & Pelphrey Attorneys At Law understand that our clients are concerned about what bankruptcy can cost and how it can help them. That’s why we offer a free consultation that can help those seeking debt relief get the answers they need to move forward.
If you’re ready to get started, don’t hesitate to request your free consultation. Contact us now for more information!