Frequently Asked Questions about Bankruptcy
I help people file for bankruptcy throughout southern Illinois to help eliminate their crushing debt and protect their assets. For almost 25 years and in over five thousand bankruptcy filings, I answer many questions people have about the process. I thought I would share some of the more common questions here.
“Can I File a cheap bankruptcy?”
Here are the costs of filing a bankruptcy:
The filing fee for a Chapter 7 Liquidation is $335.00.
The filing fee for a Chapter 13 Consolidation is $310.00.
You will have to take a Credit Counselling Class before you file and a Debt Management Class after you file. These can cost from $10.00 – $20.00 per class depending on who you use, whether you take the class through the internet or by telephone.
People on a fixed income or low income can sometimes waive or avoid these costs, but you should plan on having to pay them just in case.
The only thing that varies are the attorney’s fees. Most attorneys want to stay competitive, so fees in a specific district should not vary too much. Call around and ask what attorneys in your area charge.
Why do some attorneys charge more than others? They may have more overhead (attorneys have to pay their light bill and mortgages too!). Be sure to ask what the costs include: does the attorney charge more depending on your income? Do they charge a certain amount per bill? Do they charge per court filing or appearance?
It may be cheap at first, but the extras might cost extra and add up …
Please do your homework, shop around and ask questions! Don’t be lured into paying more than you need to!
About the author:
Michael Curry of Curry Law Office in Mount Vernon, Illinois (http://michaelcurrylawoffice.com/) has helped thousands of individuals, family and small businesses in southern Illinois find protection under the Bankruptcy Code for almost twenty-five years. He is also available to help individuals and families with their estate planning (probate, wills, power-of-attorney) and real estate and other sales transactions.
He is also the author of books on finance and bankruptcy available on Kindle through Amazon!
Whether you live in Salem, Centralia or anywhere in Southern Illinois call Curry Law Office today at (618) 246-0993 and Finally Be Financially Free!
You can also access my website at http://www.mtvernonbankruptcylawyer.com