Although the Fed has tried its best to keep inflation at a minimum, prices do tend to go up over time. This is certainly true of bankruptcy. Whenever someone files a bankruptcy petition, they pay a filing fee. These have remained steady over the past several years, but that is about to change.
On June 1, 2014, the filing fees will be increased as follows:
- Chapter 7: From $306 to $335
- Chapter 13: From $281 to $310
Just be glad you don't have to file a chapter 11! That filing fee will be $1,717! Although it is always sad when these costs go up, I am just glad that they went to round numbers! Before chapter 7 cost $306, it cost $299!
If you are thinking about filing bankruptcy and want to save $29, then you had better move fast! If you live in southern New Jersey and are considering filing bankruptcy, please feel free to call me at 856-432-4113 or contact me through this site for a free consultation in my Woodbury office to discuss your case.
If you are looking for more information about bankruptcy, then download my free book,Top Questions People Ask About Filing Bankruptcy in New Jersey.
Check out our other news articles on interesting legal developments in New Jersey, as well as a wealth of information on bankruptcy, DWI, foreclosure, student loans, and traffic court. Should you have further questions or need additional information, please contact me to schedule an appointment.