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What does it cost to file for bankruptcy?

What Does It Cost To File For Bankruptcy?The cost of filing for bankruptcy depends on your financial situation and two primary factors: the amount of your income and the value of your assets. The costs are regulated by the government and are dependent by these factors:

  • If your income is below a certain minimum defined the government as necessary to support your normal living expenses and you have no assets or assets of minimal value, then the cost could be a little as $200 per month payable over 9 months
  • If you have income over the government threshold and or some assets of value the costs are determined by a government formula and are the same for all Trustees
  • The important thing to focus on is not the cost but the benefit you receive by having your debts eliminated. The cost you pay is usually a small portion of the debts that are forgiven or eliminated
  • When you meet with a Trustee during your initial consultation, the Trustee can outline the costs of you filing for bankruptcy.

 

 

Articles related to Bankruptcy

How much will you have to pay and how does it affect the cost of your Bankruptcy?

 

 

I received my Discharge from Bankruptcy earlier in the week, and I just wanted to thank you for helping me through this process. Before meeting with you I stressed out and terrified about my future; now I'm a lot less stressed (the job market still isn't great), and a lot more hopeful.

I appreciate everything you've done, and if I know anyone needing similar help (I hope not), I will definitely refer them to A. Farber and Partners.

Regards,
Wayne B (Toronto)

 

 


 what does it cost to file for bankruptcy?


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