The main factor that decides the cost for filing for chapter 13 bankruptcy is the complexity of individual’s financial situation. Apart from the court fees it’s very difficult to calculate the total cost as it will mainly depend on attorney’s fees.
However, to consider the total cost one has to calculate, there are basically two types of cost that one has to incur in filing for bankruptcy.
1.The fees for filing for bankruptcy: the cost to file for bankruptcy is not very high. At present, the filing fee is about $274. This covers all the administrative as well as filing fees that are used in chapter 13 proceedings.
2.The fees to be paid to attorney: this is the main fee to be considered by a debtor while filing for the chapter 13 bankruptcies. Mainly you will find the attorneys charge on per-hour basis, the hourly rate will depend on rate prevailing in your state or area and your power to negotiate. The attorneys who take up bankruptcy cases generally charge an upfront fee that is called as retainer. They charge this to begin the case. These retainer ranges from five hundred dollar to a thousand dollar sometimes higher depending on the individual economic status and his power to negotiate.
Fortunately the fees apart from the retainer are paid by the court as a part of monthly repayment plan. This fee apart from retainer can range between $2000 and $3000, which is paid as payment plan in a similar way as to the creditor. So, basically if you are paying $500 as retainer and $ 2000 as fees for proceedings in the court, the total amount paid by you to the attorney comes out to be $2500 (this is generally the minimum side).
This is the reason an individual is advised to consider the entire amount being spent in calculating the cost of filing a bankruptcy petition. The cost involves retainer fees, filing fees, attorney hourly rate and subsequent costs.