Bankruptcy may be the answer to your debt problems, but in order to file, you will have to spend money. It is a typical quagmire where you do not have enough money to pay your debts but you need money to use bankruptcy to get out of debt. 

NerdWallet explains that you need to determine how much it will cost you to file bankruptcy before you write off the process as too costly. What you pay can vary depending on the type of bankruptcy you file and other factors, such as where you live and what attorney you use. 

Filing fees 

The costs for filing your case include the fee the court charges and attorney fees. The court fees are standard and set at $335 for Chapter 7 and $310 for Chapter 13. You can pay your fee in up to four installments. 

Attorney fees 

The moment you file your Chapter 7 petition the court issues an automatic stay, which means those to whom you owe a debt can no longer try to collect that debt. Due to this rule, you must pay all attorney fees prior to filing your case. An attorney may allow you to make payments on the full cost if you cannot afford to pay it all at once, but he or she will not begin your case until you pay in full. 

A Chapter 13 bankruptcy involves creating a repayment plan to pay creditors, which allows you to include your attorney fees. Therefore, you do not need the money upfront, reducing the amount you need to only the filing fee.