Filing for bankruptcy can be a financial and emotional decision, and understanding the costs involved is essential. You might be wondering: How much does it cost to file bankruptcy in Michigan?
In Michigan, the cost to file bankruptcy includes a court filing fee of $338 for Chapter 7 and $313 for Chapter 13. Additional expenses may include attorney fees ranging from $1,000 to $3,500 depending on case complexity, and credit counseling fees of around $50.
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FAQs About The Costs Involved with Bankruptcy in MIchigan
Can I file for bankruptcy myself in Michigan?
Yes, you can file for bankruptcy yourself in Michigan, a process called “pro se” filing. However, it’s often recommended to hire an attorney to ensure your case is handled properly and to avoid costly mistakes.
How long does a bankruptcy take in Michigan?
In Michigan, a Chapter 7 bankruptcy typically takes 3 to 4 months to complete. Chapter 13 bankruptcy can last 3 to 5 years, depending on your repayment plan.
Can I keep my car if I file bankruptcy in Michigan?
Yes, you may keep your car if you file for bankruptcy in Michigan, as long as you continue making payments and the car’s equity falls within Michigan’s exemption limits.
Is it cheaper to file Chapter 7 or 13?
It is generally cheaper to file Chapter 7 bankruptcy, as attorney fees typically range from $1,200 to $2,000, whereas Chapter 13 fees can be between $3,000 and $5,000.