Fees For Filing a Bankruptcy

Fees For Filing a Bankruptcy """Preparing for bankruptcy can be difficult for anyone. When evaluating outstanding debts, income, reserves, and any number of expenses or assets, it can be all the more difficult to account for the cost of bankruptcy. In addition to attorney fees, a fixed fee must be paid to the trustees of the government in order to petition for bankruptcy. The US Trustee's office, which oversees the bankruptcy procedure for the government, collects these fees.

The US Trustee's office accepts a variety of payment methods for these fees in order to make filing for bankruptcy easier for those with limited financial resources. Prior to filing for bankruptcy, the most apparent and direct method of payment is a lump sum paid to the trustee. This form of payment simplifies the procedure by immediately removing the funds from the debtor, with no additional payments owed to the court. A modest fee is required to convert a Chapter 13 bankruptcy to a Chapter 7 bankruptcy, which is the only exception.

In addition to wage garnishment, debtors have access to wage garnishment. Typically, bankruptcy fees do not exceed $300, but wage garnishment can spread this amount across marginal installments. Some wage garnishment periods can last up to three years, reducing the debtor's pressure to make payments on time.

The final option for debtors seeking to pay their bankruptcy fees is a contract between the supervising trustee and the debtor outlining a personalized payment schedule. These agreements can specify the amount and timing of payments over a predetermined period. This method can also be used to negotiate credit counseling fees and other related costs, in addition to bankruptcy fees.

Contact a bankruptcy counsel to learn more about bankruptcy fees and the filing procedure.""

" - https://www.affordablecebu.com/