What Fees Need to Be Paid when Filing for Bankruptcy?

Filing for bankruptcy is a difficult position for anybody who strives with financial deadlocks. Apart from this, there are all other sorts of other expenses to be considered as if the situation itself is not bad enough. When the process for starts to unfold you will have to pay attorney fee along with a fixed amount of money that needs to be paid to the government’s trustees. This amount will be cashed by US Trustee’s office for overseeing the process.

But there is also good news added to all these: because you are seen as an individual with financial hardships, this office will present several options for paying these fees. One option that is seen as the most convenient one is the lump sum of money that can be paid to the trustee before you file for bankruptcy. If you need a it is better to pay this entire amount because in this way there won’t be any additional fees to be paid to the court once the process is started. You may however need to pay a small fee in the event you want to convert Charter 13 into Chapter 7.

There is also another option of payment for the bankruptcy and it comes in the form of wage garnishment which spreads the amount of $300 (the usual fee) out over marginal payments.

The other option for bankruptcy process payment comes in the form of a personalized plan. As a debtor together with the overseeing trustee you will be offered a payment plan as an agreement to establish how much is due and the period of time over which this amount is paid.

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