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Minnesota Bankruptcy Costs and How to Pay for it

You have been thinking about Bankruptcy. You are a ball of stress, you can’t sleep at night. You can’t pay your bills and you feel like you can’t afford a Minnesota Bankruptcy Lawyer.

Here’s what bankruptcy costs — and how to pay for it.

How much does it cost to file for bankruptcy?

You’ll face two expenses: 1) the court filing fees and 2) the attorney fees for the bankruptcy lawyer who files your petition, helps you through the means test, and represents you in court.

The most common forms of consumer bankruptcy are Chapter 7 Bankruptcy where most all of your debts will be forgiven; and Chapter 13, which reorganizes debts into a repayment plan and can reduce what you owe while letting you retain key assets.

The Filing Fee for the Court in a Chapter 7 is $335.00. Attorney fees for a Minneapolis Bankruptcy Attorney range from $1,000-$3,000.

The Filing Fee for the Court in a Chapter 13 is $310.00. Attorney fees range from $2,000-$6,000.

Filing fees are the same nationwide, but attorney fees vary based on your location, the complexity of your case and the attorney. If you’re filing for Chapter 13 bankruptcy, your court will review your attorney fees unless they fall below the so-called “no-look” level that’s recognized as reasonable.

How to pay for the bankruptcy?

If you are looking at filing a chapter 13, you may be able to pay part of your attorney fee after the case is filed. However, most Minneapolis Bankruptcy Attorneys require the filing fee and at least half of the Attorney fee upfront.

In a Chapter 7, all attorney fees need to be paid upfront. However, some law firms, like the Buettner Law Group, will allow clients to get on a payments plan until all payments are made and then the case can be filed. The Buettner Law Group has very affordable fees.

Make sure to meet with a Bankruptcy Attorney before you stop making payments to the creditors. However, most of the time, Attorneys advise their clients to stop making payments. Once those payments are not being made, you can start making payments to the Attorney instead. The Buettner Law Group allows clients to get on payment plans.

Some people want to try to do it themselves. Bankruptcy is a complex process, it is never advisable to attempt to do it on your own. Would you want to perform surgery on yourself? Probably not. The best thing to do is to contract a Minneapolis Bankruptcy Attorney and get some advice.

If you need help call Brea Buettner-Stanchfield–at the Buettner Law Group, LLC 612-377-5311

Your Minnesota Bankruptcy Attorney – Passionate About Protecting & Fighting For The Rights of Consumers.