The Central District of California recently announced a price increase in the filing fee of Chapter 7 bankruptcies. The old fee was $299.00. Effective November 1, 2011 the new fee will be $306.00.
The filing fee for Chapter 13 bankruptcies has increased as well. The old fee was $274.00. Effective November 1, 2011 the new fee will be $281.00.
The old bankruptcy fees were in effect since 2006. Although the price is only a $7.00 increase in price, the problem with bankruptcy filing fees remains that many people that need to file bankruptcy have difficulty with coming up with the filing fee. Its a catch-22. People need to file because they don’t have enough money to pay their bills, yet they need to pay a large filing fee that is over $300.00.
Even though bankruptcy can be costly due to attorney’s fees, court filing fees, and other costs nothing gives you more “bang for buck” than bankruptcy. Paying $1,000 to $2,000 to get rid of $50,000 to well over $100,000 in debt is unmatched in terms of value. A Burbank Bankruptcy Lawyer can help you decide if bankruptcy is right for you.