Bankruptcy Fees are Goin’ UP!

As of June 1st, 2014 the Bankruptcy Court will be increasing its fees for filing and general services. Periodically the filing fees in the U.S. federal and state courts do increase and that’s why we’re seeing this happen. If you are considering filing bankruptcy, now may be a good time to get going on filing that petition in order to avoid the fee increase. It may not be a huge increase, but it’s still an increase and if you’re at the point of considering bankruptcy you obviously have a desire to start being smart with every penny you’ve got!

More: –Should I File Bankruptcy?

There are several bankruptcy fees that will increase on June 1st under amendments to the Bankruptcy Court Miscellaneous Fee Schedule that were approved in March by the Judicial Conference of the United States.

Changes include:

– The adversary filing fee in bankruptcy proceedings will increase from $293 to $350, a $57 increase. This new fee is equivalent to civil filing fees in federal district courts.

-Currently, administrative fees are $46 in all cases. They will now the fee will be $75 for cases filed under Chapters 7, 12, and 13, and $550 for cases filed under Chapters 9, 11, and 15.

More: –What Can I Keep After Bankruptcy?

-Separate administrative fees have also been approved for when married couples divide a bankruptcy filing into two cases (see also: Can One Spouse File for Bankruptcy? ) This approval was done by the Judicial Conference due to the fact that divorce or separation often occurs while a case is being adjudicated.

To learn more about the bankruptcy process or the different types of bankruptcy, or anything bankruptcy related for that matter, check out our blog or these specific articles:

–Bankruptcy Basics

–Bankruptcy Myths

–Bankruptcy Process and What to Expect in Court