How To Asses Bankruptcy Petition Cost

By: Apurva Shree

Assessing the filing bankruptcy cost is an important step if you are on the way to file a court petition for bankruptcy. Since you are filing for bankruptcy, it is a clear indication that you are in a deep financial trouble and the debts that you owe to various creditors are much more than what you can pay using the current sources of all your income.

Therefore, it is understandable that you would not be in a position to pay a substantial amount to defend your claim in the bankruptcy court. You will be happy to know that now there are many options available to you, using which you can file for bankruptcy without spending a fortune. All you need to do is just to keep in mind the following factors.

Filing Fee

The filing fee for bankruptcy has increased substantially in the last few years. You can imagine the substantial rise in the fee with the very fact in the last four years; the filing bankruptcy cost has risen to four times. Some four years ago, you would need to pay only few dollars in order to file for bankruptcy, but now, you need to pay somewhere between two hundred dollars to one thousand of dollars, depending upon your specific case and the type of bankruptcy you are filing for.

Also, do not forget, that in order to file for bankruptcy, first you need to purchase many forms, which contribute a major portion of the overall filing fee.

How To Save Money on Filing Bankruptcy

You can use the online forms processing services to reduce the filing bankruptcy cost. These services are available for anybody, no matter which part of the United State of America you live in. The great thing about the online bankruptcy forms processing services is that they offer you all types of forms free of cost, irrespective of which type of bankruptcy you are filing your court petition for. You can simply download these forms, fill out, and submit the same to the court.

What is more, if you want to save more, you may also ask the online processing agency to check out if you have filled the forms in a correct way and every thing is in line with the corresponding bankruptcy laws. The online agency will do the review for you at a very economical rate, which is much less than what you need to pay to the bankruptcy attorney for the same job. This way, you can also cut off the substantial amount in the attorney fee. However, you should note that it only reduces your filing bankruptcy cost; it does not cut off the role and importance of a good attorney.

Bankruptcy
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