{"id":141062,"date":"2025-03-18T06:10:10","date_gmt":"2025-03-18T06:10:10","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/legal\/how-much-does-it-cost-to-file-chapter-7-bankruptcy-ernest-g-ianetti-esq\/"},"modified":"2025-03-18T06:10:10","modified_gmt":"2025-03-18T06:10:10","slug":"how-much-does-it-cost-to-file-chapter-7-bankruptcy-ernest-g-ianetti-esq","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=141062","title":{"rendered":"How Much Does It Cost to File Chapter 7 Bankruptcy? \u2014 Ernest G. Ianetti, Esq."},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/images.squarespace-cdn.com\/content\/v1\/5e9b329a104f3437f8319fd9\/1590941989147-KFZHUAN0Z2X6GTI9DVS4\/image-asset.jpeg?format=1500w\" \/><\/p>\n<div>\n<p class=\"sqsrte-large\" style=\"white-space:pre-wrap;\">Hiring an experienced attorney who will take to time understand your unique financial situation is the paramount consideration. Obtaining a discharge and eliminating your debt is more important than the actual cost, as long as the cost is reasonable.<\/p>\n<h3 style=\"white-space:pre-wrap;\">Do a cost\/benefit analysis:<\/h3>\n<p class=\"sqsrte-large\" style=\"white-space:pre-wrap;\">Bankruptcy has the immediate benefit of a good night\u2019s sleep. The automatic stay goes into effect, and your creditors must stop all collection activity, including harassing letters and phone calls. I find the peace of mind bankruptcy affords our clients is usually worth a lot.<\/p>\n<p class=\"sqsrte-large\" style=\"white-space:pre-wrap;\">On the downside, bankruptcy puts a black mark on your credit report that will remain there for approximately 10 years.\u00a0 This will not prevent you from getting a new credit card. Our clients received offers for credit within one to two years of receiving their discharge from the court. However, bankruptcy will affect your ability to rent an apartment or get a new mortgage or car loan. Sometimes, you will pay more for credit because you filed bankruptcy.<\/p>\n<h3 style=\"white-space:pre-wrap;\"> Next, grab a pencil and paper. <\/h3>\n<p class=\"sqsrte-large\" style=\"white-space:pre-wrap;\">In Chapter 7 Bankruptcy, you will discharge most of your unsecured debt.\u00a0 Unsecured debt includes personal loans, credit card debt, and unpaid medical bills. Many of our clients have unsecured debt of $20,000 or more; some owe $100,000 to credit card lenders. Discharging that much debt is almost always worth the cost of a good bankruptcy attorney. <\/p>\n<p class=\"sqsrte-large\" style=\"white-space:pre-wrap;\">Keep in mind that your mortgage and car loan are secured debts that can\u2019t be discharged. Also, support payments, taxes, and student loans are considered priority debts and generally not dischargeable.\u00a0 Nevertheless, eliminating your unsecured debt often provides money for secured and priority obligations that can\u2019t be discharged. <\/p>\n<h3 style=\"white-space:pre-wrap;\">The Dollars and Cents of Hiring a Chapter 7 Bankruptcy: Attorney Fees<\/h3>\n<p class=\"sqsrte-large\" style=\"white-space:pre-wrap;\">Your legal fee for a Chapter 7 case will depend on the attorney you hire. <\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Hiring an experienced attorney who will take to time understand your unique financial situation is the paramount consideration. Obtaining a discharge and eliminating your debt is more important than the actual cost, as long as the cost is reasonable. Do a cost\/benefit analysis: Bankruptcy has the immediate benefit of a good night\u2019s sleep. The automatic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":141063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[11433,4205,11488,10738,25435,8841,25434],"dealstore":[],"offerexpiration":[],"class_list":["post-141062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","tag-bankruptcy","tag-chapter","tag-cost","tag-ernest","tag-esq","tag-file","tag-ianetti"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Much Does It Cost to File Chapter 7 Bankruptcy? \u2014 Ernest G. Ianetti, Esq. - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=141062\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Much Does It Cost to File Chapter 7 Bankruptcy? \u2014 Ernest G. Ianetti, Esq. - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Hiring an experienced attorney who will take to time understand your unique financial situation is the paramount consideration. Obtaining a discharge and eliminating your debt is more important than the actual cost, as long as the cost is reasonable. Do a cost\/benefit analysis: Bankruptcy has the immediate benefit of a good night\u2019s sleep. 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