Debtors who are considering filing for bankruptcy in St. Petersburg area already facing financial concerns, and may be worried about how much the process will cost. There are various application and administrative fees necessary if you want to pursue chapter 7 or chapter 13 bankruptcy. These expenses may include credit counseling, debt management education, professional assistance, filing fees, and procedural expenses.
Mandatory Pre-Filing Credit Counseling
Before filing for bankruptcy in St. Petersburg, you have to attend mandatory pre-filing credit counseling. After completing your session, which usually lasts about 90 minutes and often can be done online or via phone, you will receive a certificate. If you file with a spouse, you must both obtain a separate certificate, but you can attend the same session. The fees for credit counseling sessions average about $50 to $75, but this can vary. It is possible to get a fee waiver or reduction before attending. The credit counselor must be court-approved, so check with the court before enrolling.
Preparation and Application Assembly Costs
When filing for bankruptcy in St. Petersburg, you will have to fill out many forms that provide details regarding your income, debts, assets, expenses, collateral, and more. Printing and completing this paperwork, which can amount to around 50 pages of forms, can cost about $30 if you do it yourself. However, because bankruptcy rules are so rigid, any mistakes can set you back, so many people choose to hire an attorney for assistance. This will increase your expenses, but it is worth it for the peace of mind and professional help.
Filing for Bankruptcy with the Bankruptcy Court
The fees for chapter 7 and chapter 13 differ. Chapter 7 fees include a $245 filing fee, a $46 admin charge, and a $15 trustee surcharge, equaling $306. Chapter 13 fees include a $235 filing fee and a $46 admin charge, adding up to $281.
Compulsory Debt Management Education
After filing for bankruptcy in St. Petersburg, before you can receive the discharge paper that declares you free of your debts, you have to complete a debt management course. The purpose of this course is to help debtors learn how to manage their finances and to hopefully help them avoid ending up in bankruptcy court again in the future. Check to see if you qualify for fee waivers or reductions, which can eliminate this additional cost.
Contact Berkowitz & Myer When Filing for Bankruptcy in St. Petersburg
Filing for bankruptcy in St. Petersburg can cost thousands of dollars with added fees and expenses. To make sure that you are organized, on time, and prepared, trust an attorney at Berkowitz & Myer for assistance. Call us today at (727) 344-0123 or contact us online to schedule a free consultation.