How Much Will It Cost to File Chapter 7 Bankruptcy?

During your free consultation with an experienced bankruptcy lawyer, we will discuss your options regarding debt relief, including potential bankruptcy protection. At Jeffrey B. Peltz, P.C., we determine our fee for a Chapter 7 bankruptcy based on the facts of your particular situation. We consider such factors as whether: 

  • You are filing with your spouse
  • The total amount of your debt
  • The type of debts you have
  • The amount of money you earn (whether you are over the median income)
  • You own real estate or a business
  • Where you live

Fees and Expenses Associated with Chapter 7 Bankruptcy

Chapter 7 Bankruptcy in which you have less than $25,000 in debt, less than 10 creditors, don't own real estate, a business, or a car with loan that you wish to reaffirm* , and live in New York City, will cost a total of $1,595.  If you are filing Chapter 7 Bankruptcy with your spouse, and you have less than $25,000 in debt, less than 10 creditors, don't own real estate, a business, or a car with loan that you wish to reaffirm*, and live in New York City, will cost a total of $2,095.  These prices include the cost of the bankruptcy court filing fee, a credit report from all three major credit reporting bureaus, and the two required online classes that you need to do.  

Chapter 7 Bankruptcy in which you have less than $100,000 in debt, less than 20 creditors, don't own real estate, a business, or a car with loan that you wish to reaffirm*, and live in New York City, will cost a total of $1,695.  If you are filing Chapter 7 Bankruptcy with your spouse, and you have less than $100,000 in debt, less than 20 creditors, don't own real estate, a business, or a car with loan that you wish to reaffirm *, and live in New York City, will cost a total of $2,195.  These prices include the cost of the bankruptcy court filing fee, a credit report from all three major credit reporting bureaus, and the two required online classes that you need to do.  

If situation is different than that described above, we will tell you exactly what your bankruptcy would cost during our free consultation. The free consultation can take place either by phone, Skype, or in our office.  If your situation is more complicated, we recommend that you schedule an appointment for the consultation to take place in our office.

Again, please note that these prices include all of the expenses.  When you call other lawyers and they give you a price, ask them if their price includes the court fee, the credit report and the 2 required classes.  

* Reaffirming a car loan means that you sign an agreement stating that you will continue to be responsible for the car loan.  There are pros and cons of reaffirming a car loan.  If this issue applies to you, this will be discussed during our free consultation.

From Day One You Can Have Your Creditors Call Us!

If you wish to retain our office to represent you in a Chapter 7 bankruptcy, we will prepare a retainer agreement. Upon signing the retainer agreement, you will be required to pay $200 as a deposit, which is also known as a retainer fee. You will pay the balance of our fee in a monthly amount of at least $200 until the fee is paid in full. We will provide you with detailed instructions regarding the information that we will need to prepare your bankruptcy petition. Once you have retained our law office, you should stop paying the bills that you intend to be discharged in bankruptcy. You should also tell your creditors to call us and to stop calling you.

If you have more questions regarding Chapter 7 bankruptcy, its associated fees, or wish to schedule your free initial consultation, call us at 718-625-0800 or reach us online here to speak to an experienced bankruptcy attorney at no cost to you. From our conveniently located office in downtown Brooklyn, we represent clients throughout NYC and the surrounding areas, including Long Island, the Hudson Valley and New Jersey.