When you’re thinking about filing bankruptcy, you are more than likely dealing with some financial problems. Bankruptcy is often a good solution to those problems, but there is a cost to filing for bankruptcy. You may have to round up some money if you want to file bankruptcy.
How much does it cost to file bankruptcy in Illinois, exactly? The cost can vary widely and depends on a large number of factors. In this post, we take a deep dive into Illinois bankruptcy costs and ways to control them. Read on to learn more, or reach out to A Bankruptcy Law Firm, LLC, for the legal help you need.
The Costs of Bankruptcy in Illinois
Filing bankruptcy in Illinois? It’s likely going to cost you at least some money. With filing fees, court fees, course fees and attorney fees in the mix, there are a lot of different expenses thrown into the equation. See below for a summary of Illinois bankruptcy costs.
Filing Fee
One of the first fees you will likely have to consider as you file bankruptcy is the filing fee. You typically pay this fee when you file your bankruptcy documents with the court. Across Illinois’ three bankruptcy court districts — the Northern District of Illinois, Southern District of Illinois, and Central District of Illinois — the bankruptcy filing fees are the same.
The Illinois bankruptcy filing fees are as follows:
- Chapter 7: $338
- Chapter 9: $1,738
- Chapter 11: $1,738
- Chapter 12: $278
- Chapter 13: $313
- Chapter 15: $1,738
Keep in mind that these are not necessarily the only fees you will have to pay during your bankruptcy case. Also, there are payment installment options and fee waivers for filing fees in certain situations.
Other Bankruptcy-Related Court Fees
If you have a simple and straightforward bankruptcy case, the filing fee may end up being one of the only fees you have to pay to the courts. However, Illinois courts will charge you separate fees for dozens of other actions related to your case.
For example, if you want to reopen a closed bankruptcy case, you will have to pay a fee. For Chapter 7, that fee is $260, and for Chapter 13 bankruptcy, it’s $235.
On top of that, if you at any point would like to convert your case to another type of bankruptcy, you will incur a small additional fee. If, for instance, you want to change your Chapter 13 case to a Chapter 7 case, you will have to pay a $25 fee. And converting a Chapter 7 case to Chapter 11 will cost you a whopping $922.
Various court motions will trigger extra court fees, too. A motion to redact something costs $26, while a motion to modify or terminate the automatic stay costs $188, among many other types of bankruptcy court motions.
Finally, some court-related services can result in additional fees. For example, Illinois courts will charge you $0.50 per page for copies of documents. When bankruptcy cases can sometimes involve hundreds or even thousands of pages of documents, that can add up quickly.
Credit Counseling and Financial Management Courses
Over the duration of your bankruptcy case, you will be required to take two different courses. One covers credit counseling, the other covers financial management, and both are likely to cost you some money.
The fees for approved Illinois bankruptcy courses vary, with the most affordable ones hovering around $10 and the more expensive ones topping $50.
At A Bankruptcy Law Firm, LLC, we provide both of these required courses to you for free.
Cost of an Attorney
You don’t have to have an attorney to file bankruptcy in Illinois, but it is strongly advised that you file bankruptcy with the help of a lawyer. A lawyer can help you navigate the bankruptcy process to ensure you don’t make a mistake that could potentially damage your case.
With that said, if you do hire a bankruptcy attorney, you will have to pay them. The costs for attorneys can vary widely, but Chapter 7 bankruptcy lawyers tend to charge a little under or over $1,000. Meanwhile, Illinois courts now cap Chapter 13 attorney fees at $3,500.
Your attorney may need to hear about the details of your case before they can give you a cost estimate because various factors can affect how much they charge.
At A Bankruptcy Law Firm, LLC, attorney fees start at just $338 for Chapter 7 bankruptcies.
Can I File Bankruptcy for Free in Illinois?
It is possible to file bankruptcy for free in Illinois, but it isn’t easy. To achieve a free bankruptcy, you will have to either file without an attorney or get free legal representation from a legal services nonprofit. Free legal assistance is reserved for those who can demonstrate real financial need — with strict requirements.
For the filing fee, you will have to pay it even if you represent yourself. However, courts will issue filing fee waivers under certain circumstances. We will cover that in more detail below.
If you qualify for a filing fee waiver, you may also qualify for a waiver of the costs to take your two required bankruptcy courses.
Factors That Can Affect How Much Your IL Bankruptcy Costs
How much does it cost to file bankruptcy in Illinois? It depends. No one can accurately quote an exact total cost of your Illinois bankruptcy because so many variables can change the costs. However, if you have an understanding of those variables, you can start to get an idea of how much you might end up paying for bankruptcy.
Bankruptcy Filing Fee Waivers
Your bankruptcy filing fee will be one of the larger costs you have to pay for bankruptcy in Illinois — unless you get it waived. To do that, you have to fill out an application and meet strict income qualifications.
Put simply, you have to make less than 150 percent of what the federal government considers poverty-level monthly wages. The poverty level varies for different household sizes. Here is the monthly income breakdown:
- One-person household: $1,610.00
- Two-person household: $2,177.50
- Three-person household: $2,745.00
- Four-person household: $3,312.50
- Five-person household: $3,880.00
- Six-person household: $4,447.50
- Seven-person household: $5,015.00
- Eight-person household: $5,582.50
- Additional monthly income for each family member over eight: $567.50
The Complexity of Your Case
If you have a simple Chapter 7 case with few complications or a Chapter 13 case that requires little more than a repayment plan and some meetings, the cost of your bankruptcy will likely be on the lower end of the average Illinois bankruptcy cost.
But if you have an extremely complex financial situation or need to make all kinds of court motions, both the courts and your attorney are likely to charge you more. To get an idea of the complexity of your case, you can speak with a bankruptcy lawyer who can advise you on costs to expect.
Get Your Money’s Worth with A Bankruptcy Law Firm, LLC
It is completely understandable to wonder how much it costs to file bankruptcy in Illinois. Unfortunately, the answer can’t be definitive until you’ve met with an attorney to get an estimate of what you will have to pay.
Here is something that won’t add to your Illinois bankruptcy costs: a free bankruptcy consultation with A Bankruptcy Law Firm, LLC. Our trusted and experienced bankruptcy lawyers offer free consultations with no obligation to move forward and no hidden fees. During your consultation, an attorney can help you get a better understanding of what your unique case might cost when all is said and done.
Interested? To claim your free Illinois bankruptcy consultation, all you have to do is reach out to us. Contact us online or call (800) 7-BENSON.
