William H. Oliver, Jr. & Associates
Call today for a free consultation
Local 732-988-1500


Should you file Chapter 7 in 2017?

It's a new year, and for some, it's a good time to file for bankruptcy to get out from under unmanageable debts. The type of slate-clearing bankruptcy many debtors seek is Chapter 7.

Individual debtors may qualify for filing under Chapter 7, but a means test is involved. The means test determines whether debtors are truly insolvent. Bankruptcy can't be filed in any case if a debtor had a prior petition dismissed because they didn't show up for court or violated the court's orders in the six months prior to this filing.

Debtors will also be barred from filing if they dismissed their petition once their creditors attempted to reclaim property under liens.

Credit counseling by an agency that is on an approved list is also a prerequisite to file a Chapter 7 bankruptcy petition, but exceptions can be made in emergencies. Another possible exception may be if the administrator or trustee finds there aren't enough approved agencies to counsel debtors.

It costs $245 to file your bankruptcy petition. You will also need to pay an administrative fee of $75 and a trustee surcharge of $15. These fees are paid upon filing to the clerk of the court. Sometimes, however, the court will grant permission for debtors to make installment payments.

If you don't pay your fees, your case will likely be dismissed. These fees are in addition to any attorney's fees that may be charged to draft and file the petition and represent you throughout the pendency of the proceedings.

If you are tired of being hassled by creditors and are ready to deal with your debts head-on, filing for Chapter 7 bankruptcy can give you the fresh start that you need to begin anew.

Source: United States Courts, "Chapter 7 - Bankruptcy Basics," accessed Jan. 13, 2017

No Comments

Leave a comment
Comment Information

Get A Free Lawyer Consultation

With offices in Toms River and Neptune, attorney William H. Oliver is ready to answer your questions and help you find the right debt relief solution. Evening and Saturday appointments are available. Call local: 732-988-1500 or fill out our contact form.

Email Us For a Response

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Toms River Office
609 Main Street
Toms River, NJ 08753

Fax: 732-775-7404
Toms River Law Office Map

Neptune Office
2240 State Route 33
Neptune, NJ 07753

Phone: 732-341-1550
Fax: 732-775-7404
Neptune Law Office Map

visa, master card, american express, discover network