If you’re considering filing for bankruptcy, you may be wondering how much the process will actually cost you. Also, is it worth it to file yourself, or should you hire a bankruptcy attorney instead? In Burrow & Associates’ latest blog, we discuss how much bankruptcy costs in Georgia, and why DIY filing can end up costing you even more money in the long run.
How Much Does it Cost to File Bankruptcy in Georgia? Chapter 7 Bankruptcy
A Chapter 7 bankruptcy provides the debtor a fresh financial start by discharging their unsecured debts. Unsecured debts include credit card bills, medical bills, unsecured loans, amounts due on repossessed vehicles, broken leases, and personal loans with no collateral. Debts that cannot be charged under Chapter 7 are child support obligations, alimony, some student loans, and certain tax debt. For those who are overwhelmed with debt and are interested in surrendering property to stop creditor actions, filing a Chapter 7 bankruptcy might be a good option.
The filing fee for a Chapter 7 bankruptcy is $338.00, which does not include the credit counseling course that’s mandatory for those who file bankruptcy, and reports from the credit reporting agencies. Burrow & Associates’ attorney fees for a Chapter 7 bankruptcy can vary depending on the complexity of your case, but debtors can expect to pay approximately $1,700.00. (Our law firm offer payment plans).
How Much Does it Cost to File Bankruptcy in Georgia? Chapter 13 Bankruptcy
With a Chapter 13 bankruptcy, an individual is able to reorganize their debts and pay off applicable bills with a three- to five-year repayment plan. A Chapter 13 repayment plan is income-based; debtors pay off their debts systematically and under the supervision of the bankruptcy court. At the end of most repayment periods, the judge will discharge any unsecured debts that did not require payment according to the confirmed plan.
At a minimum, filing for a Chapter 13 bankruptcy will cost the debtor $313 The exact filing fees and court costs will vary, depending on where the debtor files for bankruptcy. There will typically be additional fees associated with a Chapter 13 bankruptcy, including additional court filings (ex: amended schedules, repayment plan modification) and attorneys fees.
How Much Does it Cost to File Bankruptcy in Georgia? Why It’s Not a Good Idea to D-I-Y Bankruptcy
For a debtor considering filing for bankruptcy, taking the do-it-yourself route can be a tempting option. However, those who file bankruptcy by themselves usually end up paying more money than they saved. Unlike other court forms, bankruptcy forms do not include instructions and there are very few resources for DIY filers who have a question about their case. Less than 10% of Chapter 13 pro se (DIY) cases are successful due to the complexities involved in completing the schedules and plan. A chapter 13 debtor who is unfamiliar with the requirements could end up losing property such as their house, family property and/or vehicle(s). Additionally, it’s difficult for a debtor to overcome a creditor in court – because creditors almost always have lawyers representing them. A bankruptcy attorney can advocate for those interested in filing for bankruptcy and expertly guide them through the process.
Have More Questions? Contact Burrow & Associates’ Experienced Bankruptcy Team
If you need help filing a bankruptcy case, please contact Burrow & Associates at (678) 323-2394 or our online contact page. We accept all regional filings and are ready to help you safely and responsibly get out of debt. Burrow & Associates has convenient bankruptcy office locations in Athens, Conyers, Duluth, Gainesville, Kennesaw, and Morrow. We’re currently running a promotion and will file your bankruptcy case for NO MONEY DOWN. We also offer free virtual consultations.