If you are preparing to file chapter 13 bankruptcy, it is imperative that you take the costs of your bankruptcy proceedings into account. Despite the fact that you are probably trying to make as few expenses as possible, it is a simple truth that not only the court costs of your chapter 13 bankruptcy are unavoidable, but also in order to navigate your chapter 13 bankruptcy procedure as smoothly as possible, the costs for the services of an experienced chapter 13 bankruptcy lawyer are also essential. Breaking the costs of a chapter 13 bankruptcy procedure down into two parts reveals both mandatory and voluntary costs. Mandatory, meaning costs you will have to pay no matter what, are the costs of the credit counseling agency and the court filing fee for your chapter 13 bankruptcy petition. The costs of your credit counseling, which you must take in order for the court to accept your chapter 13 bankruptcy petition, are not high: the entire credit counseling can usually be taken for under $100.The court filing fee for a chapter 13 bankruptcy amounts to $185. Fortunately, the court fee does not have to be paid in order to get your chapter 13 bankruptcy petition filed, but it must be paid within a reasonable amount of time after filing your chapter 13 bankruptcy petition. Most bankruptcy courts allow you to request a payment plan to pay this fee over a certain time period.The voluntary costs, meaning costs you do not have to make but are well-advised to, include your chapter 13 bankruptcy lawyer’s fees and if at all possible, a financial expert’s fees. Investing in both these services is a sound choice,because the more informed you are about both your legal position and your financial position, the stronger you will be able to make your chapter 13 bankruptcy petition and your chapter 13 bankruptcy repayment plan. Both your chapter 13 bankruptcy lawyer and your financial advisor will likely request payment up front.However daunting and perhaps imprudent this may seem, it is actually a smart investment to make, because both these professionals can save you money in the long run by making your chapter 13 bankruptcy petition and your chapter 13 bankruptcy repayment plan water tight. The fees these professionals charge vary widely according to their reputation and experience, and it is wise to shop around before you retain any professional’s services.
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