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What Are the Costs Associated with a Bankruptcy Filing?

Interviewer: How much does it cost to file either version of bankruptcy? Is there a difference in the cost between a Chapter 7 and a Chapter 13? What’s the average cost of even filing in either bankruptcy?

Adam: The filing fee for the court is around $306. Chapter 7 bankruptcy is typically less expensive than a Chapter 13. The price range depends on how complicated the filing is, for example, if it’s just an individual or it’s a married couple. It doesn’t necessarily become more expensive because a person is married, though.

A Chapter 13 Bankruptcy Filing Is Generally More Expensive than a Chapter 7 Filing

A Chapter 13 bankruptcy filing is more expensive. The initial down payment probably isn’t as much because part of the attorney fees comes from payments that they will make to the trustee.

Married Couples and Bankruptcy: Can Only One Party File or Is Bankruptcy a Joint Undertaking?

Interviewer: With married couples, is it possible for only one spouse to file bankruptcy and the other one does not? Are they in the bankruptcy together regardless?

The Type of Debt Incurred by a Married Couple Dictates Whether One or Both Will File

Adam: A person could file on his or her own. It depends on whether the couple has joint debt or not. If there’s joint debt, then obviously they’re going to want to consider filing together. One person could file just on their own individual personal debt.

By Adam Hunt

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