How much does it cost to file for bankruptcy?

The two most common bankruptcy types for regular Americans are chapter 7 and chapter 13 bankruptcies. Both Chapter 13 and Chapter 7 bankruptcies comes with its own costs depending on its type and its complexity, as well as how much debt is being discharged in the process. A Chapter 7 is a liquidation bankruptcy and is available to individuals who, based on their income, can’t possibly pay their existing debt obligations. Your assets, which can include your home, are sold to pay off as much of your debt as possible before the rest is discharged.