President Trump is Increasing Bankruptcy Filing Fees, But Not For All Chapters

Edrie Pfeiffer
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Edrie Pfeiffer, Bankruptcy & Divorce Attorney
Posted on Mar 22, 2017

President Trump's new budget includes raising the filing fees for bankruptcy, but it only applies to Chapter 11 bankruptcy, not Chapter 7 bankruptcy or Chapter 13 bankruptcy.  Additionally, as of now the measure will only apply to the largest 10% of Chapter 11 bankruptcy debtors. Companies filing Chapter 11 bankruptcy have to pay quarterly fees, and right now those fees are hard for small companies to manage. The new budget proposal is seeking to make the bankruptcy fee burden lighter for those smaller companies, and heavier for the large companies who owe more debts. Does the bankruptcy fee increase effect you? Probably not, unless you own a company that is filing bankruptcy. Click below to read the full article, and please call us if you have questions about the bankruptcy process and how filing bankruptcy can effect you!

 

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