Bankruptcy can feel like an overwhelming journey, but understanding the cost to file and the estimated bankruptcy attorney fees in Mississippi is the first step.
by:
Dave Te
,
September 27, 2024
Reviewed By:
,
September 27, 2024
Information in this article does not constitute legal advice, it is for informational purposes only, and may not constitute the most up-to-date information. Readers should contact their attorney for advice on any particular legal matter.
The cost of filing for bankruptcy in Mississippi is $338 for Chapter 7 and $313 for Chapter 13 in 2024. However, things get a little more complicated if you decide to hire a bankruptcy attorney or if you're looking to have the filing fees waived. We dug deep and spent around $1,000 on PACER, a public records database that contains bankruptcy attorney fees, to get a more accurate estimate of attorney fees in Mississippi. As of 2024, we found that Chapter 7 attorney fees can range from $1,170 to $1,500. Keep in mind that this is still just an estimate. If you want a more location-specific estimate, you can use the free Mississippi bankruptcy cost calculator below, which takes into account your exact location in the state.
If you're anything like me, you're probably wondering how you can afford the cost of bankruptcy in Mississippi, especially when it's already tough to pay bills, what with interest rates and inflation still causing headaches in 2024. While many bankruptcy costs, such as the filing fee and credit counseling courses, are relatively similar, the cost of attorney fees can vary greatly depending on whether you're in Jackson or Gulfport.
So, the purpose of this article is to provide you with estimated all-in costs, which include:
Bankruptcy Attorney Fees
Bankruptcy Filing Costs
Estimate the All-In Bankruptcy Cost in Your Zip Code
We've been getting a lot of questions about the cost of bankruptcy in Mississippi. We've got you covered! We've built a helpful database of attorney fees just for this purpose. All you need to do is enter your zip code below, and we'll give you an estimate of how much bankruptcy might cost in your city in Mississippi. You'll get a clear idea of what you might be looking at in terms of expenses. We know that dealing with bankruptcy can be a stressful and overwhelming experience, so we're here to make it a little easier for you.
Table of Contents
1. Actual Lawyer Costs By District In Mississippi
A variety of bankruptcy lawyers' fees have already been shown to you, but there are a few additional variables that will affect the final sum. The location of the bankruptcy lawyer, the intricacy of the case, the attorney-client dynamic, and the level of expertise of the expert are some of the variables that influence the total cost. However, since the location is so crucial, let's look at the actual expenses as displayed by the Mississippi bankruptcy district map and the data from Pacer files.
See the map below to determine which district you reside in, then scroll down to see actual legal fees.
Covering a significant area, the Northern District of Mississippi includes major cities like Oxford, Tupelo, and Greenville. Operating within the Central Time zone, this district spans 37 counties. It features a central courthouse in Oxford and additional court facilities throughout the district, overseen by 4 active district judges and 2 magistrate judges. The diverse economic activities and vibrant communities in Mississippi's Northern District contribute to the overall richness of the region.
For residents in proximity to these major areas within Mississippi's Northern District, the expected bankruptcy filing cost can vary, often falling within a range from $1,000.00 to $2,000.00. It's crucial to bear in mind that this is an estimate, and actual expenses may fluctuate based on factors such as your financial situation and the choice of legal representation.
Mississippi Southern District
Encompassing a significant area, the Southern District of Mississippi includes major cities like Jackson, Hattiesburg, and Gulfport. Operating within the Central Time zone, this district spans 45 counties. It features a central courthouse in Jackson and additional court facilities throughout the district, overseen by 4 active district judges and 2 magistrate judges. The diverse economic activities and vibrant communities in Mississippi's Southern District contribute to the overall richness of the region.
For residents in proximity to these major areas within Mississippi's Southern District, the expected bankruptcy filing cost can vary, often falling within a range from $572.00 to $800.00. It's crucial to bear in mind that this is an estimate, and actual expenses may fluctuate based on factors such as your financial situation and the choice of legal representation.
Chapter 13 bankruptcy attorneys in Mississippi can charge between $3400 and $3600. The actual cost may vary depending on the district. Unlike Chapter 7 attorney fees, Chapter 13 fees tend to be more consistent due to "no-look fees." These fees are considered a fair and reasonable cost for the services provided. However, it's important to note that some attorneys may charge an hourly rate for any extra work done after filing for Chapter 13. So, it's worth checking with your attorney if any additional charges are beyond the initial fee.
3. Bankruptcy Filing Costs
Bankruptcy filing costs in the United States are the same, no matter where you are. It's not just Mississippi that has these costs. There are some other costs you should consider when considering filing for bankruptcy. Let's dive into them.
The filing fee for Chapter 7 bankruptcy is $338. This includes a $245 filing fee, a $78 administrative fee, and a $15 trustee surcharge.
If Chapter 13 bankruptcy seems more like the way to go, the filing fee is lower at $313. That includes a $235 filing fee and a $78 administrative fee.
If you're strapped for cash and can't afford the filing fee. There might be some options for you. You could pay the fee in installments or waive it altogether.
Mississippi Filing Fee Waiver Guidelines
If you're thinking about filing for Chapter 7 bankruptcy in Mississippi, you might be able to get your filing fees waived if your income is less than 150% of the poverty guidelines set by the state. Be sure to check out Chapter 7 Bankruptcy Mississippi Income Limit.
In 2022, here are the poverty guidelines for Mississippi based on the number of people in your household:
For a single person, the income limit is $13,590.
If two people are in your household, the limit is $18,310.
For three people, it's $23,030.
If there are four people, the limit is $27,750. - And so on...
The income limit increases by $4,720 for each additional person in your household beyond nine. So, if your income falls below these limits, you may be eligible to have your Chapter 7 bankruptcy filing fees waived. Getting some financial relief during a challenging time is an excellent opportunity. Remember that these guidelines are specific to Mississippi and may vary if you're in a different state. But it's worth checking out if you're struggling with your finances and considering bankruptcy. I hope this information helps you make an informed decision.
Mandatory Course Costs
When you're in a tight spot financially and decide to file for bankruptcy in Mississippi, there are a couple of courses you'll need to take. Don't worry, though; you can usually complete these courses online, which makes things much more manageable. Now, here's the deal - you'll have to cough up some cash to enroll in these courses. The average cost is somewhere between $10 to $50 per course. Keep in mind that these courses have to be approved. Look at the list of approved Mississippi credit counseling courses and approved Mississippi debtor education courses. You can find all the details, including the cost of each course, by clicking on the links. Trust me, it's worth checking out.
Miscellaneous Costs
If you've got a meeting of creditors at the courthouse, it's essential to know that you might have to shell out some cash for transportation to get there. On top of that, you might also have to cover the cost of a credit report for your attorney. Your attorney might be able to lend a hand with getting that credit report sorted. Let's talk numbers. You may wonder how much this transportation thing will set you back.
We’ve made it easier for you to figure that out by hovering over your district, using this interactive map below showing bankruptcy courthouses in Mississippi by district, and looking up your nearest bankruptcy court.
Will Inflation Affect the Cost To File Bankruptcy in Mississippi?
There's been some talk about inflation and how it might affect attorney fees. First, the filing fees for Chapter 7 and Chapter 13 bankruptcy cases were updated. The Chapter 7 fee went from $335 to $338, and the Chapter 13 fee went from $310 to $313; these changes are effective as of December 1st, 2020. So, considering this minor increase, I wouldn't sweat it too much. It's not likely to put a dent in your wallet. Inflation might force bankruptcy attorneys to dig deeper into their pockets. They might have to shell out more money for their employees and deal with higher living costs, especially in cities like Gulfport or Southaven or anywhere else in Mississippi. While the filing fee won't give you sleepless nights, you might see inflation creeping into those attorney fee costs.
Would My Bankruptcy Cost Be Higher Jackson Than Southaven?
Living in a suburb in Mississippi can make you wonder whether it's better to hire a local attorney or move to a bigger city like Gulfport to save money on bankruptcy costs.
Jackson, the most populous city in Mississippi, with around 164,422 people, might lead you to assume that bankruptcy attorney fees there would be higher than in a smaller place like Southaven.
While the cost might be higher in Jackson, there's a twist. Jackson could have more bankruptcy attorneys, meaning more competition and lower prices. The total cost of filing bankruptcy, including all those fancy bankruptcy fees, could be much higher in your city compared to Jackson.
Here's a little something to keep in mind. Most bankruptcy attorneys offer something called a free bankruptcy consultation. So you can gather multiple perspectives and make an informed decision. Our bankruptcy cost calculator below takes all these variables into account and provides a breakdown of the all-in cost estimate.
Why Do Some Attorneys Charge Higher Chapter 7 Bankruptcy Fees?
If you compare prices from two different bankruptcy attorneys in Gulfport, when it comes to Chapter 13 bankruptcy attorneys in Southaven, they often charge the same amount. Why? Well, it's because of the "no-look fee." It's a regular fee for the services they provide. It's as simple as that. However, regarding Chapter 7 bankruptcy, things can get a bit more complicated. The attorney fee can vary, so it's essential to understand what you're paying for.
Now, let's talk about what factors can affect the cost of a bankruptcy lawyer. First off, it depends on which type of chapter you're filing. Are you going for Chapter 7 or Chapter 13? That makes a difference. Then, your case is complex. Is it a no-asset case or an asset case? That can impact the cost, too. And let's not forget about your location. Are you in Jackson or Gulfport? That can also play a role—the level of connection you have with your attorney matters, too. Lastly, the attorney's expertise comes into play. How many years of experience do they have?
Let me give you an example to make things more straightforward. Imagine you're making $10,000 more than the median income for Mississippi, and you still want to file for Chapter 7 bankruptcy. In that case, the attorney might have to spend some extra time going through your expenses. They must see if you qualify for Chapter 7, even though you're above the median.
If you're curious about bankruptcy lawyer fees and how they work, check out this article: "Understanding Bankruptcy Lawyer Fees." It'll give you a deeper understanding of what to expect and help you make an informed decision.
Conclusion
I hope this article has helped you understand the all-in costs of filing for bankruptcy with a lawyer. But hey, if you still have questions, don't hesitate to reach out. If you want a quick estimate of the costs specific to Mississippi, check out the free Mississippi bankruptcy cost calculator below.
Bankruptcy can be a great way to get a fresh start when your debt has become unaffordable due to financial hardship. Bankruptcy is for those who have a strong desire to pay their bills, but may not have the ability to pay those bills.
Trying to figure out if you can meet all the requirements for a bankruptcy discharge can be a challenge, especially if you don’t know where to start. The Bankruptcy Means Test form was created to help you navigate through to see if you qualify to file for bankruptcy discharge. The means test will look at your income to determine if you can qualify.
Yes, you can file bankruptcy while unemployed with no job, but please note that your unemployment income does count as income for the bankruptcy means test.
