If you are looking for a way to save some money on a bankruptcy case, the only costs you may lower are the lawyer and filing fees.

Chapter 7 is the bankruptcy of bankruptcies because your assets are sold off and your debt is erased. With Chapter 13 Bankruptcy what you are really getting is a consolidation plan with very favorable interest rates and times.

Chapter 13 and 7 Bankruptcies are certainly not the only ones that you can apply for. There are other Bankruptcies, just not nearly as popular. For example, farmers often apply for a Chapter 12 Bankruptcy.

You’ll have to pay a total of $274 ($235 and $39 for administrative expenses) if you want to file for Chapter 13 Bankruptcy and a total of $299 if you want to apply for a Chapter 7 Bankruptcy ($245 as well as $39 in administrative expenses and $15 in trustee fees).

You can fill out a waiver and be let off the hook from the aforementioned fees. However, your financial situation has to be in pretty bad shape in order for you to be exempt.

Whether you apply for Chapter 7 or Chapter 13 Bankruptcy, you’re going to have to pay a lawyer around $1,000-$2,000 to get you through the process. The best way to save on lawyer fees is to be educated about your financial situation so that the amount of hours you have with your bankruptcy lawyer aren’t too much.

There are services and products you can buy, which say that they can substitute for lawyers. This is far from the truth. Nobody, but a lawyer, can provide you with advice that may save you from serious mistakes in your bankruptcy proceedings.

The last thing you want to deal with, when applying for bankruptcy, are even more fees, especially ones that are in the thousands of dollars range. However, many attorneys have financing plans. Also, your financial situation is going to get a lot better once your bankruptcy proceedings go well. But in order for them to go well you’re going to need a lawyer to advise you.