Bankruptcy

What does an Arkansas Bankruptcy Cost?

The price of a bankruptcy can be broken into two parts: 1) the costs and filing fees and 2) the lawyer fees. The costs include credit reports and bankruptcy courses which are the same for both Chapter 7 and Chapter 13. We must run your credit to ensure we get all of your debts listed on your bankruptcy filing. The credit report isn’t absolute, so you still need to provide a list to your attorney. The credit report costs $35 for an individual and $55 for a couple.

The filing fees are different for Chapter 7 ($335) and Chapter 13 ($310). You must also take a credit counseling course before you file and a debtor education course after you file.

This chart lays out the various costs that go into each kind of bankruptcy.  The column to focus on is the “money needed to file” column. This is the amount of money you will need to come up with to begin the process of filing bankruptcy.

Money needed to File Costs (Filing fee and Credit report) Attorney’s Fee Total
Ind. Ch 7 – Below Median $695 $370 ($335 filing fee; $35 for Credit Report) $650 $1,020
With Reaffirmation $770 $370 ($335 filing fee; $35 for Credit Report) $800 $1,170
Joint Ch 7 – Below Median $715 $390 ($335 filing fee; $55 for Credit Report) $650 $1,040
With Reaffirmation $790 $390 ($335 filing fee; $55 for Credit Report) $800 $1,190
Ind. Ch 7 Above Median $995 $370 ($335 filing fee; $35 for Credit Report) $1,250 $1,620
With Reaffirmation $1,070 $370 ($335 filing fee; $35 for Credit Report) $1,400 $1,770
Joint Ch. 7 Above Median $1,015 $390 ($335 filing fee; $55 for Credit Report) $1,250 $1,640
With Reaffirmation $1,090 $390 ($335 filing fee; $55 for Credit Report) $1,400 $1,790
Ind. Ch 13 – Below Median $345 $345 ($310 filing fee; $35 for Credit Report) $3,500 $3,845
Joint Ch 13 – Below Median $365 $365 ($310 filing fee; $55 for Credit Report) $3,500 $3,865
Ind. Ch 13 – Above Median $345 $345 ($310 filing fee; $35 for Credit Report) $4,000 $4,345
Joint Ch 13 – Above Median $365 $365 ($310 filing fee; $55 for Credit Report) $4,000 $4,365

The kind of bankruptcy you need depends on the type and amount of assets you own and whether you have any debts related to property you want to keep, such as mortgages or car notes.  To determine what type of bankruptcy is right for you, give us a call to schedule your free bankruptcy consultation.

Request A Consultation