Does The Government Pay for Bankruptcies?
Does The Government Pay for Bankruptcies? For many individuals and businesses facing financial troubles, filing for bankruptcy can be a difficult yet necessary decision. But the question of who actually pays for bankruptcy filings is still up in the air. Generally speaking, individuals and companies are responsible for their own bankruptcy fees - meaning that it is not typically covered by government funds. However, there are certain conditions wherein government money may be used to pay these legal costs.
The first instance where federal funding may be used to cover bankruptcy fees is if an individual or business qualifies as financially indigent and unable to cover these expenses themselves. In this case, a judge may decide that the United States Trustee Program will fund all or part of the cost associated with filing for bankruptcy protection. This program provides financial assistance when deemed necessary on a case-by-case basis.
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