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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.

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