How much does it cost to file bankruptcy in Louisville KY?

How much does it cost to file bankruptcy in Louisville KY?

Filing for bankruptcy can be one of the most painful situations that you will come across in life. However, it is important for you to remain mindful and act mindfully so that you can overcome the negative consequences that are associated with it. This is where you should understand how much it really costs for you to go ahead and file for bankruptcy in Louisville KY.

The amount that you have to pay on bankruptcy petition? 

Before you file for bankruptcy, it is important to get the assistance of one of the most reputed bankruptcy attorneys Louisville Kentucky. Then you can understand what comes along with it to you and how much you will have to spend out of your pocket to get the job done. In general, you will have to spend around $300 to $400 to file a bankruptcy petition. You will be able to reduce this amount when you come up with the decision to file for bankruptcy on your own. However, it will not be the best option available for you to move forward with. That’s because filing for bankruptcy on your own can lead you towards numerous frustrating situations and you will never want to deal with them on your own.

What are the other expenses you have to bear when filing for bankruptcy? 

You will have to bear numerous other expenses when you are getting the help of a bankruptcy lawyer Louisville KY. It is better if you can stay aware of those expenses as well. Then you will be able to refrain from unexpected surprises that you may come across at the time of filing for bankruptcy.

The filing fee for bankruptcy would be $310 for chapter 13 and $335 for chapter 7. Your lawyer will guide you through these processes and explain under what chapter you should file for bankruptcy. Then you will be able to get the expected returns.

At the time of filing for bankruptcy, you will need to go ahead and obtain credit counseling services as well. This is a mandatory process that you should go through before you file for bankruptcy. Most of the agencies are charging a nominal fee for this. It will cost you around $50. However, this is not a mandatory payment. If you are not in a position to pay this amount, there is a possibility for you to get that waived off as well.

The other expense that you have to deal with is the cost associated with a debtor education course. It is important for you to go through this course and complete it. You must make sure that you are doing it after you file for bankruptcy. Otherwise, you will not be able to get a discharge. The cost that you have to bear when taking this course would vary from $50 to $100. There is a possibility for you to get a lower amount depending on your financial situation. In some of the instances, we also see how this amount is being waived off.

As the next thing, you need to understand how much money you will have to spend to get the service offered by bankruptcy lawyers in Louisville Kentucky. Bankruptcy laws are complicated than you assume. Therefore, you will not be able to go through those laws on your own and file for bankruptcy. Even if you do, you will not be doing it in the correct way. That’s where you must get the help of a bankruptcy lawyer.

If you get the support offered by a bankruptcy lawyer to file for bankruptcy under chapter 7, you will have to pay a fee that ranges between $500 and $3,500. On the other hand, people who file for bankruptcy under chapter 13 will have to pay somewhere between $2,500 to $6,000. This may sound like a big amount for you to deal with, especially when you are dealing with bankruptcy. However, your lawyer will be able to help you with securing perfect results and you don’t need to worry too much about the amount of money that you are spending on this.