Although the cost of bankruptcy of $1800 dollars may seem expensive, all other debts and loans are discharged (dropped).
After the bankruptcy is discharged you will have no other payments. The fee for your bankruptcy can be paid in monthly payments of about 200 dollars.
Many people have bills far in excess of 200 dollars so the fee for bankruptcy is usually well worth the cost.
In bankruptcy there are two different costs for everyone;
- Base Rate Financial Contribution
The cost of the bankrupt is approximately two hundred (200) dollars per month for the term (nine months) of the bankruptcy
- Surplus Income Contribution
Where the bankrupt earns more income that prescribed by law the bankrupt must pay fifty (50) percent of this into the bankruptcy.