Legal Question in Bankruptcy in Maryland

Re: Cost and new law effective date

It depends on your circumstances, but generally the cost, including the court's filing fee, will be in the $1000-$1500 range. The new law (other than a few provisions now in effect) will take effect 10/17, at which point the cost will go up dramatically (due to additional filing requirements - more work on the part of the lawyer), and the relief now available may no longer be possible, depending on your circumstances. So see a competent bankruptcy lawyer as soon as possible.

Re: Cost and new law effective date

A simple CH7 will cost about $900 including the $225 of costs/Filing Fees. You will need to fill out a 15 page informations sheet and come in to review the Petition and schedules to file them accurately, expeditiously and promptly.

Re: Cost and new law effective date

You definitely should not file without the assistance of a lawyer, who can better guide you regarding the costs associated with the filing. If all of your assets are not disclosed, your case may be dismissed and then you will have to refile after the new law becomes effective.

Re: Cost and new law effective date

A successful no-asset filing can be done for $600. Bankruptcy is designed to give you a fresh start. You should also consider a firm with the skills to put you into a financial and wealth building plan that helps you avoid a reoccurrence of a financial downturn that led to the bankruptcy. A future plan helps you get your money's worth from filing for bankruptcy. You also want a firm that can look at your credit files and see if you can work on an alternative to bankruptcy. Finally, find someone who can emphatize with your situation. If you file now, you may be discharged by year's end or early next year.