If you are facing bankruptcy and are concerned about the fees associated with filing a case, don’t hold off on seeking expert advice.

A common question I hear from my clients: “How much is the Chapter 7 fee and when do I have to pay it?”

As I will explain in this post, there is a filing fee for Chapter 7 cases. You should be aware of how much it is, when it needs to be filed and that there are some special circumstances you might possibly be eligible for.

The filing fee is $299 for either a single or a joint case. The filing fee is payable when the case is filed.

Exceptions

If the person filing the Chapter 7 case can show that his or her income is less than 150% of the official poverty line, and that he or she is unable to pay the filing fee, the court can waive payment.

If the person filing the case is unable to pay the entire filing fee when the case is filed, it may be paid in up to four installments, with the final installment due within 120 days. There is an exception to this rule as well – the period for payment may later be extended to 180 days by the court, if there is a valid reason for doing so.

The bottom line

Unless payment is waived by the court, the entire filing fee must ultimately be paid or the case will be dismissed and no debts will be discharged.

In some upcoming posts, I plan on explaining the timing for filing a Chapter 7 case and how the case may affect your credit rating. Stay tuned!

Thanks for reading and let me know if you have any questions,

Matt
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Matt Hughson
New York Bankruptcy Lawyer

Ziff Law Firm, LLP
303 William St., Elmira, NY 14901
Tel: (607) 733-8866
Fax: (607) 732-6062
Toll Free: 1-800-943-3529
Email: mhughson@zifflaw.com
Web: http://www.zifflaw.com

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