The budget includes a provision that would raise an additional $150 million in 2017 through higher filing fees. The budget aims to generate an additional $150 million in 2017, and $289 million in 2018, in addition to the $138 million already generated.
Although it is too early to know which filing fees will increase, the increased fees would go to the Department of Justice's United States Trustee Program. The Trustees oversee bankruptcy filings.
Currently, the filing fee for Chapter 7 bankruptcy, the most common type of petition, is $335. Other filing fees range from $310 for Chapter 13 to $1,717 for Chapters 9, 11 and 15. Additional costs come from attorney's fees and required financial counseling.
It will be interesting to see if anyone challenges the fee on the basis of restricting access to the Courts. Should this pass, it will be interesting to see how much of an increase in filing of fee waiver applications.
So, what are the fees now? Let's take a look.
According to President Trump's budget proposal, the filing for bankruptcy would likely cost more.
The budget includes a provision that would raise an additional $150 million in 2017 through higher filing fees. The budget aims to generate an additional $150 million in 2017, and $289 million in 2018, in addition to the $138 million already generated.
Although it is too early to know which filing fees will increase, the increased fees would go to the Department of Justice's United States Trustee Program. The Trustees oversee bankruptcy filings.
Currently, the filing fee for Chapter 7 bankruptcy, the most common type of petition, is $335. Other filing fees range from $310 for Chapter 13 to $1,717 for Chapters 9, 11 and 15. Additional costs come from attorney's fees and required financial counseling.
It will be interesting to see if anyone challenges the fee on the basis of restricting access to the Courts. Should this pass, it will be interesting to see the increase in the filing of fee waiver applications.
So, how much does it currently cost to file Let's take a look.
New Petition Filing Fees (as of 3/18/2017)
Chapter 7 Voluntary or Involuntary
$ 335.00 [$245 filing fee + $75 administrative fee + $15 trustee surcharge]
Chapter 9
$1,717.00 [$1167 filing fee + $550 administrative fee]
Chapter 11 Voluntary or Involuntary
$1,717.00 [$1167 filing fee + $550 administrative fee]
Chapter 12
$ 275.00 [$200 filing fee + $75 administrative fee]
Chapter 13
$ 310.00 [$235 filing fee + $75 administrative fee]
Chapter 15
$1,717.00 [$1167 filing fee + $550 administrative fee]
