When you are in debt, carefully managing your finances may be your number one priority. However, when the debt becomes overwhelming and you make the difficult decision to file for bankruptcy, the last thing you may expect is a filing fee associated with this process. It’s imperative to understand that bankruptcy, despite being a process to help eliminate debt, can be expensive. As such, the following blog explores the filing fees in further detail, whether or not they can be waived, and the importance of connecting with Franklin County bankruptcy attorneys to assist you in navigating this complicated process.
What Are the Bankruptcy Filing Fees?
Filing for bankruptcy, though one of the best ways to take back control of your finances, can be an expensive process. Not only do you need to pay your attorney fees, but the court also imposes filing fees.
Regardless of which chapter you choose to file, it costs around $300 to file for bankruptcy in the United States. This fee is imposed by the federal courts, as bankruptcy is a federal process. As such, the state of Ohio has no say in what these fees are.
In addition to your attorney and filing fees, you’ll also need to pay for the mandatory credit counseling courses you must take before you are eligible to file for bankruptcy. If you attempt to bypass these courses, your bankruptcy case will be dismissed, meaning you will not reap any of the benefits of this process, and you will need to re-file once you have taken the necessary steps in this process. These classes generally cost around $85.
When Can These Be Waived?
When you are in overwhelming debt, the idea of paying money to fix your problem can be frustrating, especially as bankruptcy is often a last resort for those looking to regain control of their finances. However, you should note that in some instances, the bankruptcy filing fees can be waived. It is critical to understand that due to the nature of
In general, if your annual income is 150% below the poverty guidelines established for your household and you cannot afford to pay the fees in installments, you are generally eligible to have the filing fees waived. You should also note that if you are eligible for a waiver, you are likely eligible to have the mandatory pre-credit counseling fees waived as well.
In the event you are eligible to have the filing fees waived for your bankruptcy case, you will need to complete a waiver application. When you file your bankruptcy petition, you can submit this document in addition.
As you can see, bankruptcy is an incredibly complicated process, so enlisting the assistance of an experienced attorney to help guide you through these complex matters is critical. At Cousino & Weinzimmer LLC, we understand how overwhelming and complicated this process can be to navigate, which is why we will do everything in our power to help you fight for the best possible outcome. When you need assistance, our firm is here. Contact us today to learn how we can represent you.
