Bankruptcy has real costs, but they are often far less than the debt you are trying to eliminate. Here is a transparent breakdown of every cost you should expect.
| Cost Item | Amount | Notes |
|---|---|---|
| Court filing fee | $338 | Can pay in installments; fee waiver available |
| Attorney fees | $1,500-$2,500 | Typical Newark range; usually paid upfront |
| Pre-filing credit counseling | $15-$25 | Required within 180 days before filing |
| Post-filing debtor education | $10-$25 | Required before discharge |
If your household income is below 150% of the federal poverty guidelines, you can apply to have the $338 filing fee waived entirely. You file the fee waiver application (Official Form 103B) with your petition.
| Cost Item | Amount | Notes |
|---|---|---|
| Court filing fee | $313 | Can be paid through your plan |
| Attorney fees | $3,500-$5,000 | Typical Newark range; mostly paid through plan |
| Pre-filing credit counseling | $15-$25 | Required within 180 days before filing |
| Post-filing debtor education | $10-$25 | Required before discharge |
Attorney fees and the filing fee can be included in your repayment plan. You typically need only a small upfront payment (often $0-$500), with the rest paid through monthly plan payments over 3-5 years.
Filing fee: $338. Attorney fees: $1,500-$2,500. Credit counseling: $25-50 total. Fee waivers available for low-income filers. National cost comparison.
Filing fee: $313. Attorney fees: $3,500-$5,000. Most costs can be paid through your repayment plan.
The filing fee can be waived for low-income Chapter 7 filers. Legal Services of New Jersey may provide free representation.
For Chapter 7, usually yes. For Chapter 13, fees are typically included in your plan.