Cost of Filing Bankruptcy in Cambridge: How Much Will You Have to Pay?

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The amount you are required to pay while you are bankrupt depends on a number of factors, and so the cost of filing bankruptcy in Cambridge will depend on what assets you own, what you earn each month, any unusual medical or other expenses you may have, and the size of your family.

In most cases there is a minimum contribution you will be making each month, regardless of your income. The trustee will set up a payment schedule that works for you. For example, if you are paid weekly, the trustee can set up a pre-authorized payment plan from your bank account so that one quarter of the monthly amount is paid from your bank account each week. This eliminates the need to write cheques or make cash payments.

As your income increases, the amount you are required to pay each month increases. Each month you will submit your paystubs to your bankruptcy trustee, and he/she will calculate the additional amount owing.

The calculation of surplus income is somewhat complicated, so we recommend you to bring some recent paystubs to your first meeting with the trustee so that we can explain this calculation, and estimate for you the cost of your bankruptcy in Cambridge. Our bankruptcy trustee in Cambridge provides the initial consultation free of charge.

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