Who Pays for Bankruptcies?
When an individual or business declares bankruptcy, the question arises of who pays for it? Bankruptcy is not free and doesn't just go away after being declared. It's a complex legal process that can involve court proceedings, fees and other costs.
The short answer is that in most cases, the debtor will pay for the expenses associated with bankruptcies. This could include lawyer’s fees, administrative costs like filing fees, court costs and any other related expenses. These fees will depend on many factors such as what type of bankruptcy is being filed and where the person lives. The cost can be anywhere from several hundred to thousands of dollars depending on the complexity of the case.
In some cases creditors may also have to pay for some portion of a bankruptcy proceeding if there are assets available to cover them.
The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706