Cost of Bankruptcy: The Bankruptcy Petition

Contributed by mm | October 3, 2006 12:43 AM PST

From Bankrate, which is running a revealing series about how much a bankruptcy will truly cost.

From Bankrate:

Debtors seeking to attain relief from their debts have to file a bankruptcy petition. That's going to cost.

The amount for a Chapter 7 bankruptcy is $299. This includes the statutory filing fee of $245, a $39 administrative fee and the $15 case trustee fee.

The amount for filing a Chapter 13 is $274. This includes the statutory filing fee, which is $235, and the $39 administrative fee.

"The fees are broken down, because they must be allocated among the U.S. Treasury, the U.S. Trustee System and the judiciary," says Tony Anastas, chief deputy clerk for the U. S. District Court, District of Idaho.

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