Michael Levitis :what Does Filing For Bankruptcy Costs

By: Michaellevitis

Even though an increasing number of people are choosing bankruptcy as a lawful means of getting rid of their debts, only of few of them are actually aware of the actual costs of the whole process. So while reputed and trustworthy law firms like the Law office of Michael Levitis provide an honest advice about the costs of various procedures, there are numerous law firms and bankruptcy attorneys, who charge higher amounts just to make profit for themselves. That is why it is even more vital to choose a good law firm to handle your bankruptcy case.

Even when you choose a well known bankruptcy firm like the Law office of Michael Levitis, it is always better to have some prior idea about the costs of basic procedures. This not only helps you save the time in discussing the costs but also enables you to arrange funds for these expenses. A breakdown of the costs for the various procedures related to bankruptcy is given below

Pre-Bankruptcy Credit Counseling Any person filing for bankruptcy is required to undertake a credit counseling course at an authorized centre and complete it within 180 days prior to filing the bankruptcy petition. The average cost of the course is around $40.

Bankruptcy Petition Preparation Depending on how you plan to file your bankruptcy petition and which Chapter you are filing under, your preparation costs can vary between $100 and $4000 and will include the costs of various forms, attorney fee and even the NABPP fee.

Bankruptcy Petition Filing Costs Having prepared the petition you need to submit the court filing fees at same time that you submit the forms. The fees range from $274 to $299 for various chapters.

Personal Financial Management Course Once your bankruptcy petition is accepted, you need to undertake the personal financial management course, which costs around $30.

Article Source: http://yourfinance.co.za

About The Author

Any honest bankruptcy firm such as the Law Office of Michael Levitis will give you a genuine breakdown of all the costs including their own fees. To learn more about the fee charged by them, visit their website at www.levitislaw.com.