Cost to File Bankruptcy in New Jersey
Sussex County bankruptcy lawyer advises on debt relief expenses
Filing for bankruptcy can be critical to eliminating your debts and giving you a fresh start financially. Before the process starts, a qualified attorney can outline the court costs and legal fees necessary to obtain lasting debt relief. At the Law Offices of James C. Zimmermann, we make sure you have a thorough understanding of costs associated with the bankruptcy process in New Jersey ahead of time, and will provide the cost-effective representation you need.
Filing fees for bankruptcy in New Jersey
Although the purpose of bankruptcy is debt relief, you must pay filing fees to take advantage of it. In the New Jersey bankruptcy court, you must currently pay $338 to file a Chapter 7 action and $313 to file under Chapter 13. However, if you can’t afford to pay these fees, we may request that the bankruptcy court excuse you from this obligation.
Attorney fees for New Jersey bankruptcies
The attorney fees you pay depend on which type of bankruptcy you file and how complicated it is. Because it takes less time, Chapter 7 (debt liquidation) typically incurs fewer legal costs, while Chapters 13, which involves paying off debts over a number of years through a bankruptcy payment plan, might cost a little more. A Chapter 11 bankruptcy, used mostly by businesses, can be highly complex and usually costs more than a personal bankruptcy. However, cost is only one of several factors to consider in deciding which type of bankruptcy is right for you. Regardless of the specific type of filing, the relief you receive should far outweigh any legal fees.
Additional costs associated with bankruptcy
In addition to the filing fees, you will probably have to pay other costs and expenses. These might include charges for the following:
- Credit counseling classes
- Amended filings
- Moving to convert your case from one chapter to another
- Moving to reopen a bankruptcy
- Searching records
Fortunately, you might be able to include these costs in a Chapter 11 or 13 payment plan. We work diligently to avert any unnecessary expenses.
Cost of filing Chapter 7 vs. Chapter 13
Generally, Chapter 13 costs slightly less than Chapter 7 to file the paperwork to begin the process, but due to the greater amount of time it takes to resolve, will likely cost significantly more in the end. A northern New Jersey bankruptcy lawyer in our office will discuss the relative costs of each before we file for bankruptcy on your behalf.
Risks of a low-cost or DIY bankruptcy
Don’t let these costs deter you from seeking experienced, high-quality legal representation. Bankruptcy is a complex procedure with a lot of requirements, and one mistake could lead to a less than optimal result or even outright dismissal. Representing yourself or hiring an unqualified attorney could set you back for months or years. With decades of experience in this practice area, you can count on us to give you the trustworthy legal representation you need.
Get cost-effective bankruptcy representation in New Jersey
At the Law Offices of James C. Zimmermann, every matter is approached on a case-by-case basis, and you will meet with an accomplished bankruptcy attorney to discuss your matter before any decisions are made. To schedule a free initial consultation, call 973-764-1633 or contact us online. We have locations in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.
