Bankruptcy Filing Fees Will Increase June 1, 2014

The Judicial Conference of the United States approved two amendments to the Miscellaneous Fee Schedule in its March 2014 session that impact bankruptcy filings.  The filing fee for a chapter 7 bankruptcy will increase from $306.00 to $335.00 and the filing fee for a chapter 13 bankruptcy filing will increase from $281.00 to $310.00 beginning June 1, 2014.

The last increase in the filing fees for chapter 13 and chapter 7 was on November 21, 2012 when the filing fee for chapter 7 increase from $299 to the $306 and the filing fee for a chapter 13 increase from $274 to $281.  The increase in the filing fee in 2012 was to give the Trustee who administers your case an additional $7.00 per case.

You should be aware that if your income is very low, you may qualify for a waiver of the filing fee.  The waiver is based on the office poverty guidelines.  For example, in early 2014 if you live on the continental United States your gross income from all sources must be less than $1,300.00 per month and you cannot have assets that could be a source of the filing fee such as tax refunds that are to be received in the near future.

The attorneys at Bond & Botes, PC will review your financial situation and help you decide whether you need to file a bankruptcy and if so, which type of bankruptcy you should file.  If you are eligible for a waiver of the filing fee, this is something the attorney will discuss with you.  The attorneys at Bond & Botes PC will also work with you to pay the filing fee or determine if the filing fee can be included in your chapter 13 filing so that you could file the bankruptcy with no attorney fees or filing fee that must be paid before you are under the protection of the Bankruptcy Court’s automatic stay.