Getting Out Of Debt Just Got A Little Tougher

New Filing Fees

Starting June 1, 2014, bankruptcy filing fees are going to increase. The filing fee for a chapter 7 bankruptcy case is increasing to $335.00. The filing fee for a chapter 13 bankruptcy case is increasing to $310. 00. So if you’re already struggling to pay your debts and are seeking bankruptcy protection, you’re going to have to save up some money just for the filing fee. I haven’t even mentioned the attorneys’ fees that are required on top of that. See Fee Schedule Increase Notice.

 Fees Should Decrease

It’s ironic that in this new age of electronic filing, fees would actually increase. It would make more sense that fees would actually remain the same or go down based on the decrease in labor required to process these types of cases. Further, as bankruptcy filings have decreased by approximately 10% to 12% over the last several years, it’s hard to make an argument that there is a need for more federal bankruptcy judges.

 No Deterrent

This new increase in filing fees will not deter those from filing. It will simply make it more difficult for someone to pay off the fees associated with a bankruptcy filing. For those that really need the relief, they will find a way to pay the additional fee.