How much is the chapter 7 filing fee and when must it be paid?
The filing fee is $200 for either a single or a joint case. If a debtor is unable to pay the filing fee when the case is filed, it may be paid in installments, with the final installment due within 120 days. The period for payment may later be extended to 180 days by...What if the debtor has no nonexempt property for the trustee to collect?
If, from the debtor’s chapter 7 forms, it appears that the debtor has no nonexempt property, a notice will be sent to the creditors advising them that there appears to be no assets from which to pay creditors, that it is unnecessary for them to file claims, and...What persons should not file under Chapter 7?
A person who is not eligible for a chapter 7 discharge should not file under chapter 7. Also, a person who has substantial debts that are not dischargeable under chapter 7 should not file under chapter 7. In addition, it may not be wise for a person with current...What happens to the property that the debtor turns over to the trustee?
It is usually converted to cash, which is used to pay the fees and expenses of the trustee and to pay the claims of unsecured creditors. The trustee’s fee is usually $45 plus a percentage of the amount collected from the debtor.
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