Financial Cost of Bankruptcy
There are filing costs associated with filing for Bankruptcy in Pennsylvania. The filing fee for a
- Chapter 7 Bankruptcy is $335; and
- Chapter 13 Bankruptcy is $310.
Courts can’t waive Chapter 13 filing costs. In a Chapter 7 Bankruptcy, you may be able to pay your filing fees in installments.
- overlook required documentation and schedules, or
- file inaccurate or incomplete information.
You will have legal fees. These costs will depend on the law firm you work with. Call Us at 610-670-9000 to find out the cost and to discuss your options.
Non-Financial Costs of Bankruptcy
Bankruptcy Affects Your Quality of Life and Standard of Living
If you’re filing for
- Chapter 13 Bankruptcy you can expect all your disposable income to go towards repaying your loans during your repayment plan term. You’ll have less money available for other purchases.
- Chapter 7 Bankruptcy may require some of your assets may be liquidated to pay your creditors. You’ll have fewer assets available to you. Bankruptcy will protect some of your assets.
Cost of Bankruptcy on Your Credit
- significantly lowers your credit rating for a time;
- stays on your credit history for ten years; and
- obviously, makes it more challenging to get low-interest rates on financing or to get financing at all in the short term.
However, you may qualify for some types of loans within a few years of your Bankruptcy. This depends on individual lender policies and loan products.
You Won’t Find Better Bankruptcy Attorneys in Reading or Berks County to Help You Determine the Costs of Your Bankruptcy
That’s because of we
- have over 40 years’ experience practicing PA Bankruptcy Law in Berks County communities around Reading;
- have a wide breadth of legal expertise in areas impacted by Bankruptcy including
- determine if there are alternatives to filing Bankruptcy;
- are not here to condemn you but rather
- make you understand you’re not alone and shouldn’t be embarrassed;
- relieve the burden and stress of financial problems; and
- most importantly, give you a fresh start with your finances.
Contact Us Online or Call Us at 610-670-9000 today.
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- Easy Access Ramp; and
- Spacious, Well-Lit Offices