How Much Does Bankruptcy Cost?

The cost of a bankruptcy will depend on which Chapter you file. In North Carolina, the cost for a Chapter 13 is set by the court. The cost for a Chapter 7 bankruptcy depends upon the law firm and the specifics of your case.

Chapter 13 Fees

In the Western District of North Carolina, a Chapter 13 bankruptcy is $4,500.00. However, you will most likely not need to pay all of this up front. Each law firm requires a different ‘up front’ (pre-filing) amount to be paid. The remainder of the fees are built into your Chapter 13 plan and are paid monthly to the trustee as part of your ongoing Chapter 13 payment.

By way of example, if you paid $2,000.00 up front before filing, it would leave $2,500.00 to be paid through your plan. If your Chapter 13 plan was 60 months, that equates to roughly $41.50 per month to be built into your Chapter 13 plan.
Your full monthly Chapter 13 payment will depend upon a few factors, including your monthly income and expenses and any priority debt you have. You can read more in our article How Much Will My Chapter 13 Payment Be?

Chapter 7 Fees

While most firms have a standard base fee for Chapter 7 filings, each Chapter 7 is different and requires a different amount of work to be done by the law firm. We do our best during the Free Consultation to discover any specific items which may entail additional work by the firm. A few items which may dictate your Chapter 7 fee are whether you have judgments which need to be addressed, or if we anticipate an objection by a creditor. Lastly, if you have assets which cannot be exempt in bankruptcy, it is reasonable to assume we will need to negotiate with the trustee in an attempt to preserve as many of those assets as possible.

Unexpected Attorney Fees In Chapter 7

There are rarely unexpected attorney fees in Chapter 7. The representation agreement outlines some standardized fees for performing certain tasks, should they need to be performed. Our goal is for each client to know the full extent of attorney fees prior to moving forward with our firm and prior to filing the bankruptcy case. We accomplish this by having thorough conversations with clients and potential clients, in order to discover the full breadth of the bankruptcy filing.

Speak With A Charlotte Bankruptcy Lawyer Today

If you want to know how much filing bankruptcy will cost, we are happy to discuss it with you. We can be reached at 704.749.7747 or you can request a free consultation HERE. We know considering bankruptcy can be stressful. Our promise is to be the support you need as we work to help you take the next steps toward freedom from debt. We know you have choices. We hope you choose Layton Law.