Bankruptcy Cost Calculator
How much to file bankruptcy? Estimate bankruptcy filing costs — Chapter 7 ($1,400-$4,000), Chapter 13 ($3,000-$7,000), Chapter 11 ($12K-$100K+). Means test eligibility, dischargeable debts, alternatives, credit impact
How much does it cost to file bankruptcy in 2026? Chapter 7: $1,400-$4,000 total (attorney $1K-$3.5K + filing $338 + counseling $50-$100). Attorney fees paid before filing (required).
⚖ Chapter 7: $1,400-$4,000 total. Chapter 13: $3,000-$7,000 (attorney can be paid through plan). Means test determines Ch 7 eligibility. 7-10 year credit report impact.
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Estimated Total Cost
$3,500 — $6,500
Total cost includes attorney fees, court filing fees, and typical case expenses. Contingency cases shift cost to a percentage of recovery (typically 33%).
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Reviewed by Leonard Goldberg, Editor · Last updated
Bankruptcy Cost + Eligibility 2026
Chapter 7 (Liquidation): Discharge of eligible unsecured debts in 3-6 months. Attorney $1,000-$3,500 + filing fee $338 + credit counseling $50-$100 = $1,400-$4,000 total typical. Attorney fees must be paid in full BEFORE filing (Lamie v. US Trustee 2004). Non-exempt assets CAN be liquidated by trustee — though most consumer filers have few/no non-exempt assets due to state + federal exemption schedules.
Chapter 13 (Reorganization): 3-5 year repayment plan, keeps non-exempt assets. Attorney $2,500-$6,000 + filing fee $313 = $3,000-$7,000 total. Attorney fees OFTEN PAID THROUGH THE PLAN — lowers upfront cost. Chapter 11 (Business): $10,000-$100,000+ depending on complexity — used by businesses + high-asset individuals exceeding Ch 13 debt limits.
Two mandatory counseling courses: (1) Pre-filing credit counseling ($20-$50, fee waivers available), (2) Post-filing debtor education ($10-$50, fee waivers under 150% poverty line). Means Test (Ch 7 eligibility): household income vs state median. Above median → second calculation tests whether disposable income permits repayment. If so → presumptively abusive → must use Ch 13.
Bankruptcy Cost FAQs
How much does it cost to file bankruptcy in 2026?
Chapter 7: $1,400-$4,000 total (attorney $1K-$3.5K + filing $338 + counseling $50-$100). Attorney fees paid before filing (required). Chapter 13: $3,000-$7,000 total (attorney $2.5K-$6K + filing $313). Attorney fees can be paid through the plan. Chapter 11: $12,000-$100,000+ (business). Fee waivers available for filers under 150% poverty line. Do-it-yourself filings possible but risky — errors can result in dismissal or loss of assets.
Can I keep my house and car in bankruptcy?
Usually YES — via exemptions. Each state has exemption schedule protecting specific dollar amounts of: home equity (homestead exemption — varies $5K-$500K+ by state; some unlimited like FL), vehicle equity ($3K-$15K typical), retirement accounts (fully exempt federally), household goods, tools of trade. Chapter 7: non-exempt assets liquidated. Most consumer filers lose nothing because they're within exemption limits. Chapter 13: keep all assets, repay based on plan.
Can bankruptcy discharge student loans in 2026?
Yes — but rare and complex. Requires separate adversary proceeding proving 'undue hardship' under §523(a)(8). Brunner test (most circuits): (1) cannot maintain minimal standard of living if required to repay, (2) conditions likely to persist, (3) good-faith repayment efforts. NEW (Nov 2022 - Mar 2025 DOJ/USTP guidance): 98% of cases where DOJ recommends discharge receive full or partial discharge. Major shift. Still requires skilled attorney + specific case. Talk to bankruptcy attorney about student loan discharge — odds much better in 2026 than 2020.
How do I know if I qualify for Chapter 7?
Means Test: compares household income to state median. If BELOW median → automatic qualification. If ABOVE median → second calculation tests disposable income after IRS-aligned expense allowances. If disposable income permits repayment ($166/month+ typical threshold) → must use Ch 13 instead. Run means test calculator online (available at many bankruptcy attorney websites). Recent job loss (6+ months unemployed) may exempt you from means test. Attorney can help interpret expense allowances.
What happens to my credit score after bankruptcy?
Drops 90-200 points at filing (higher pre-filing scores drop more). Ch 7 on report for 10 years; Ch 13 for 7 years. Rebuilding: most filers can reach 620-650 FICO within 18-24 months with: secured credit cards, on-time all payments, keeping utilization under 30%. FHA loans: 2 years post-Ch 7 discharge. Counter-intuitively, credit score can be HIGHER 2 years post-bankruptcy than pre-bankruptcy (no more defaults accumulating).
What is the difference between Chapter 7 and Chapter 13?
Chapter 7: surrender non-exempt assets, discharge eligible debts in 3-6 months. Cost $1,400-$4,000. Good for: low-asset filers with mainly unsecured debts (credit cards, medical). Chapter 13: keep all assets, repay creditors over 3-5 years per court-approved plan. Cost $3,000-$7,000. Good for: higher-income filers (above means test), people with substantial non-exempt assets they want to keep (second home, vehicles, investments), behind-on-mortgage filers (Ch 13 can cure arrearage in plan).
What are alternatives to bankruptcy?
Debt Consolidation: combine debts into one lower-interest loan ($0 forgiveness — just restructures). Debt Settlement: negotiate lump-sum at 40-60 cents on dollar (tax consequences via 1099-C). Debt Management Plan (DMP): nonprofit credit counseling agency, 3-5 years, reduced interest. SOL Expiration: each debt has 3-10 year SOL — after expiration creditor cannot sue (but can still collect). Depends on: income stability, asset level, debt types, time horizon. Consult nonprofit credit counseling + bankruptcy attorney both.
How long does bankruptcy take?
Chapter 7: 3-6 months from filing to discharge typical. Simple cases resolve in 90-120 days. Chapter 13: 3-5 year plan (60 months maximum). Discharge at end of plan. Some states allow earlier completion via hardship discharge. Chapter 11: varies dramatically — 6 months to multiple years for complex business reorganizations. Pre-filing preparation: 30-60 days to gather documents + credit counseling + file petition.