The average cost to file bankruptcy in South Carolina depends on the type of bankruptcy you file, whether you are an individual or a small business, and other factors. While the filing fees are generally the same for everyone, some cases are more complicated than others. These factors could cost you more in additional fees paid to the court.
If you work with a bankruptcy lawyer with our firm, they could help you identify options for waiving filing fees, creating a payment plan for these fees, or other options to reduce how much you need to pay upfront.
Filing Fees for Bankruptcy in South Carolina
According to the U.S. Bankruptcy Court for the District of South Carolina, the fees for a bankruptcy filing vary depending on the type of bankruptcy you choose.
It will cost you $338 to file Chapter 7 bankruptcy in South Carolina. Chapter 7 is the most common type of bankruptcy filed by individuals. It liquidates nonexempt assets and discharges qualifying debts.
Chapter 11 bankruptcy is popular among businesses and individuals who need to reorganize their finances but hope to keep their assets. Businesses often emerge from this type of bankruptcy with a healthy company. It costs $1,738 to file for Chapter 11 bankruptcy in South Carolina. You also must pay quarterly fees throughout the repayment process.
Filing fees and other related court costs for filing Chapter 13 bankruptcy in South Carolina total $313. This type of bankruptcy allows individuals to restructure their debt and repay it over several years. In some cases, they could also negotiate lower settlement amounts with some creditors. In addition, Chapter 13 allows filers to protect their home and other assets.
Do I Qualify to Have My Filing Fees and Other Costs Waived?
You may be able to complete the application to have the Chapter 7 filing fee waived and avoid this cost. You will qualify if your household income falls below 150 percent of the current federal poverty guidelines.
If you do not qualify for a waiver, you could get approved for a payment plan by filing Official Form 103B. You would need to apply to the court to pay the filing fee in installments. You can also talk to an attorney with our firm about these options to learn if you qualify.
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Do I Have Any Other Expenses to Consider?
You may have additional fees to pay as you navigate the bankruptcy process:
- Getting paper or audio copies of documents
- Filing amendments
- Converting a filing, such as a Chapter 13 case to a Chapter 7
- Reopening cases
- Your mandatory credit counseling course
Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, all individuals who file for bankruptcy must complete an approved credit counseling course within six months of their filing date. There is a fee associated with these classes, although it may be reduced or waived under some circumstances.
How Much Will an Attorney Charge to Handle My Bankruptcy?
How much you can expect to pay an attorney will depend on the details of your case and the type of bankruptcy you file. For example, Chapter 7 cases are generally less complicated and time-consuming than Chapter 11 or 13. However, these plans require several years of ongoing payments and monitoring, so the lawyer must create a detailed plan for their client.
While Chapter 7 usually costs less, many attorneys allow their clients to make a down payment before filing Chapter 11 or 13. Then, they include the rest of their fees in the payments that fall under the plan. In essence, they become one of the creditors you pay under your restructured payments.
Many bankruptcy firms provide a complimentary initial consultation. During this free case evaluation, you can learn more about how much it will cost to file bankruptcy, the attorney’s fees you can expect to pay, and your best options.
Speak With a Bankruptcy Lawyer in South Carolina Today
If you are ready to file for bankruptcy in South Carolina as an individual, family, or business, a lawyer from Farmer & Morris Law, PLLC, could help. First, our team will discuss your options with you, including weighing whether bankruptcy is the best option based on your unique financial situation. Then, we can help you make the decision and guide you through the bankruptcy process if that is best for your future.
Call (828) 286-3866 today to speak with our team about your case.