If you are a debtor considering bankruptcy filing in Pensacola, you may already be facing financial problems and are concerned about the cost of the process. If you are interested in filing for chapter 7 or 13 bankruptcy, there are many application and administrative costs. These fees can include professional assistance, filing fees, and credit counseling.

MANDATORY PRE-FILE CREDIT COUNSELING

You must attend mandatory credit counseling before you file for bankruptcy in Pensacola. You will be issued a certificate after you have completed your session. It usually takes around 90 minutes. You must obtain separate certificates if you are filing jointly with your spouse. However, you can both attend the same session. Credit counseling sessions cost between $50 and $75. However, fees can vary. You can get a waiver of or reduction in fees before you attend. Before enrolling, the credit counselor must have been approved by the court.

PREPARATION & APPLICATION ASSEMBLY FEES

You will need to fill out forms detailing your income, assets, debts, liabilities, expenses, collateral, etc. when you file for bankruptcy in Pensacola. If you are doing it yourself, the cost of printing and completing these forms can run to $30. Because bankruptcy rules can be so strict, making mistakes could cause you to lose your case. Many people hire an attorney to help them. Although this will increase your costs, it is well worth it for peace of mind and professional assistance.

FILE FOR BANKRUPTCY WITH BANKRUPTCY CENTER

Chapter 7 and 13 fees have different fees. The fees for chapter 7 include a $245 filing charge, $46 admin fee, and a $15 trustee Surcharge. This totals $306. Chapter 13 fees include a $235 fee for filing and a $46 administration charge. This adds up to $281.

COMPULSORY DEBT-MANAGEMENT EDUCATION

Before you can get the discharge paper declaring you debt-free after filing bankruptcy in Pensacola you must complete a debt management class. This course is designed to teach debtors how to manage their finances, and hopefully prevent them from ending up in bankruptcy court in the future. You may be eligible for fee reductions or waivers. This can help you avoid paying an additional fee.

This post was written by Trey Wright, a lawyer with extensive experience in chapter 13 foreclosure in Pensacola! Trey is one of the founding partners of Bruner Wright, P.A. Attorneys at Law, which specializes in areas related to bankruptcy law, estate planning, and business litigation.

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