Chapter 7 Bankruptcy Fees to Increase
There is a range of fees tied to filing cases in a federal bankruptcy court, depending on the chapter of the Bankruptcy Code under which you file.
In October 2005, the fee for filing a bankruptcy petition under Chapter 7, by far the most common form filed by individuals, will increase from $155 to $220. In addition, there is a $15 Chapter 7 trustee fee and a $39 administrative fee – for a total fee of $274 in Chapter 7 cases.
Chapter 7 is designed to allow individuals to keep certain exempt property while their remaining property is sold to repay creditors.
In 2004, 1.13 million of the 1.59 million bankruptcy petitions reported in the United States were filed under Chapter 7.
More information can be found at [www.uscourts.gov/bankbasic.pdf].