What Will Bankruptcy Cost?

Bankruptcy will cost you court filing fees as well as attorneys’ fees if you hire a lawyer.

You’re thinking about filing for bankruptcy, but the thing is, you don’t want to get into more debt doing it. Isn’t the whole point of filing bankruptcy to ultimately improve your financial situation?

By learning about what bankruptcy will cost, you can figure out if you can afford it and whether or not it’s worth it to follow through.

The Cost of Bankruptcy in Ohio

Filing for bankruptcy in Ohio costs different amounts depending on what kind of bankruptcy you’re pursuing. Court filing fees for a Chapter 7 bankruptcy are $335, while the fees for Chapter 13 are $310. However, if you’re doing it with the help of a bankruptcy lawyer, it will cost you more depending on how simple or complex your case is going to be. For instance, if you are dealing with a number of different creditors or you filed for bankruptcy in the last eight years, then your case is going to be more complicated and expensive. Keep in mind that you will also have to pay for two credit counseling courses, which range from $10 to $50.

Why File for Bankruptcy?

Even though it’ll cost you money to file for bankruptcy, it could be worth it in the end. Getting constant calls from creditors and knowing you have so much debt you can never repay could take a huge toll on your mental health. It could also be affecting your marriage and leading to fights between you and your spouse. You may feel trapped and like you’re never going to be able to get ahead because of all the debt you have. Bankruptcy could be a good solution because, in the long run, you will increase your credit score and be able to achieve your financial goals.

Calling Richard P. Arthur for Bankruptcy Help

Richard P. Arthur, Attorney at Law, can help you figure out the costs and file for bankruptcy. You can call 937-254-3738 for a consultation. He has nearly three decades of experience assisting clients in Dayton and Trotwood, as well as Montgomery, Greene, Miami, Clark, and Warren counties.