Let's talk about the filing fees. In South Dakota, for a Chapter 7 bankruptcy, you're looking at a fee of $338. If you're going for a Chapter 13 bankruptcy, it's slightly lower at $313.
See, if you decide to hire a bankruptcy attorney to guide you through the process, the costs can vary. We did some digging and found that the attorney fee range for Chapter 7 bankruptcies in South Dakota can be anywhere between $1170 and $1450. Keep in mind this is just an estimate.
We stumbled upon a database called PACER. A public records database, including bankruptcy attorney fees. We spent around $1,000 to get access to it. We were able to get a pretty accurate estimate of the attorney fees in South Dakota.
If you're curious about the costs specific to your location in South Dakota, we've got you covered. We've got a free bankruptcy cost calculator that takes into account your exact location.
You’re probably wondering how are you supposed to afford all these bankruptcy costs when you're struggling to pay your bills. It's tough out there, especially with interest rates and inflation still causing havoc in 2024.
Here's the deal: some bankruptcy costs, like the filing fee and credit counseling courses, are pretty standard across the board. But when it comes to attorney fees, that's where things can get a bit wild. The costs can vary dramatically depending on whether you're in Sioux Falls or Rapid City.
The purpose of this article is to give you an idea of the estimated all-in costs of filing for bankruptcy in South Dakota. We're talking about two main things here: the attorney fees and the filing costs. It's important to have a clear picture of what you're getting into before you take the plunge.
Estimate the All-In Bankruptcy Cost in Your Zip Code
We've been getting this question a lot: "How much does bankruptcy cost in South Dakota?" and we've got you covered with the answer. We've gone ahead and built a database of attorney fees just for this purpose. All you gotta do is enter your zip code below, and we'll give you an estimate of the cost of bankruptcy in your city in South Dakota.
1. Actual Lawyer Costs By District In South Dakota
A variety of bankruptcy costs for different situations have already been covered in our posts. When bankruptcy is taken into account, there are a few more elements that will affect the total. A few of these could be the bankruptcy attorney's location, the case's complexity, and your lawyer's degree of experience. Furthermore, a major determinant of potential costs is geographic location. Below is an article that we've developed to help you understand the fees in your area and to guide you through the procedure. Let us look more closely at the actual charges that are reported in the Pacer filing information.
South Dakota District
Covering a substantial area, the District of South Dakota includes major cities like Sioux Falls, Rapid City, and Aberdeen. Operating within the Central Time zone, this district spans 66 counties. It features a central courthouse in Sioux Falls and additional court facilities throughout the district, overseen by 4 active district judges and 2 magistrate judges. The diverse economic activities and dynamic communities in South Dakota's District contribute to the overall richness of the region.
For residents in proximity to these major areas within South Dakota's District, the expected bankruptcy filing cost can vary, often falling within a range from $1,350.00 to $1,621.00. 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.
2. Chapter 13 Bankruptcy Attorney Fees South Dakota
Chapter 13 bankruptcy attorneys in South Dakota can charge around $2,500. The exact fee may vary depending on the district. Unlike Chapter 7 attorney fees, Chapter 13 fees tend to be more consistent due to something called "no-look fees." These fees are considered reasonable for the services provided. However, it's worth checking if the attorney charges an hourly rate for any extra work that may be required after filing for Chapter 13 bankruptcy. It's always good to be aware of any potential additional costs.
3. Bankruptcy Filing Costs
These costs aren't just limited to South Dakota, they're pretty similar all over the country. So, if you're thinking about filing for bankruptcy, here are a few other costs you should keep in mind.
Bankruptcy Filing Fees
The US Courthouse has a fee schedule and bankruptcy forms that lays it all out for you.
Now, if you're going for Chapter 7 bankruptcy, the filing fee is $338. That's broken down into 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 a bit lower at $313. That includes a $235 filing fee and a $78 administrative fee. And in other cases, you might even be able to get the fee waived altogether. Check out the Connecticut filing fee information here. It's worth a look if you're in a tight spot.
South Dakota Filing Fee Waiver Guidelines
If you're thinking about filing for Chapter 7 bankruptcy, but you're wondering if you can get the filing fees waived, there may be a way. If you're below 150% of the South Dakota poverty guidelines, you may be eligible to have those fees waived. Be sure to check out Chapter 7 Bankruptcy South Dakota Income Limit.
Mandatory Course Costs
When you find yourself in a tough financial spot and decide to file for bankruptcy, there are a couple of courses you need to take in South Dakota. Don't worry, though, you can usually do them online, which is super convenient. Now, here's the deal - each course will set you back around $10 to $50 on average. Just one thing to keep in mind, though: these courses have to be approved. So, to make things easier for you, I've got a couple of handy links. Check out the list of approved South Dakota credit counseling courses. Be sure to also check out the list of approved South Dakota debtor education courses, you can even find the cost associated with each course.
Miscellaneous Costs
If you've got a meeting of creditors coming up at the courthouse, it's important 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're probably wondering how much this whole transportation thing is gonna set you back.
We’ve made it easier for you to figure that out by hovering over to your district using this interactive map below showing bankruptcy courthouses in South Dakota by division and looking up your nearest bankruptcy court.
Will Inflation Affect the Cost To File Bankruptcy in South Dakota?
As of December 1st, 2020, the Chapter 7 filing fee went up a smidge from $335 to $338, while the Chapter 13 filing fee increased from $310 to $313. Now, these changes are pretty minor, so I wouldn't expect them to put a major dent in your wallet.
Now, when it comes to attorney fees, there might be a bit more action. See, inflation can push bankruptcy attorneys to shell out more money for their employees and deal with higher living costs. Especially in cities like Rapid City or Aberdeen, or even across the whole of South Dakota, attorneys might feel the pinch and pass some of those costs onto their clients.
Would My Bankruptcy Cost Be Higher Sioux Falls Than Aberdeen?
With a population of 181,883, Sioux Falls takes the crown as South Dakota's most populous city. Naturally, you'd expect the cost of hiring a bankruptcy attorney there to be higher than in a smaller town like Aberdeen.
While the price tag might be steeper in Sioux Falls, there's a silver lining. The city boasts a larger pool of bankruptcy attorneys, which means more competition and potentially lower prices. So, believe it or not, you might end up shelling out more money in your town than if you turn to Sioux Falls for help.
Most bankruptcy attorneys offer free consultations. You can get multiple perspectives without spending a dime. Our bankruptcy cost calculator below takes all these variables into account to give you an estimate of the all-in cost.
Why Do Some Attorneys Charge Higher Chapter 7 Bankruptcy Fees?
Let's start with Chapter 13 bankruptcy attorneys. These folks usually charge a fixed fee known as the "no-look fee" in Aberdeen. It's a standard fee that covers the services they provide. So, you can expect the costs to be pretty similar among different attorneys in this case.
Now, when it comes to Chapter 7 bankruptcy, things get a little more interesting. The attorney fees for Chapter 7 bankruptcy can vary quite a bit. And that's where it becomes crucial to understand what you're getting for the extra bucks you're shelling out.
So, what exactly determines the cost of hiring a bankruptcy lawyer? Let me break it down for you:
- The type of bankruptcy you're filing - Chapter 7 or Chapter 13.
- The complexity of your case - whether you have assets or not.
- Your location - where you're filing for bankruptcy.
- The level of connection you have with the attorney.
- The attorney's expertise - how many years of experience they have under their belt.
Let me give you an example to make things clearer. Imagine you're making $10,000 more than the median income in South Dakota, and you still want to file for Chapter 7 bankruptcy. In this case, the attorney might have to spend extra time reviewing your expenses to determine if you qualify for Chapter 7 despite your higher income. And guess what? More time spent by the attorney means a higher overall cost for you.
If you're curious to learn more about bankruptcy lawyer fees and how they work, I recommend checking out this article: Understanding Bankruptcy Lawyer Fees. It's always good to be informed before making any decisions, especially when it comes to something as important as your financial future.
Conclusion
Now, I hope this information helps give you an idea of what to expect when it comes to the cost of filing bankruptcy with a lawyer. If you have any questions, feel free to reach out. And hey, if you want to get a more accurate estimate, you can try out the free South Dakota bankruptcy cost calculator below.