You received a call from Capital One at 8009556600 or Portfolio Recovery at 6302568591 and are wondering why they are contacting you. You find out it is a debt collector, and now you are considering bankruptcy, but are unsure whether you can afford it.
Some people don’t file for a Chapter 7 bankruptcy in Florida discharge because they think it’s not within their financial capacity. However, there are numerous ways to file for a bankruptcy discharge without breaking your savings. So, you may be wondering, “What are advantages of filing bankruptcy?” or “What is the income limit for filing chapter 7”.
Here are some cheap ways to file for a Chapter 7 bankruptcy discharge:
1. Compare the cost of different Bankruptcy Attorneys
To do this, you should first use our attorney fee calculator to estimate what the fee should be in your area. Search the internet for the contact of attorneys near you and ask for the fees they charge for a Chapter 7 bankruptcy case. If you can, you should meet with the attorneys to judge their requisite knowledge.
2. Look for an attorney that accepts payments in installment after filing Chapter 7
It’s difficult to find this option as most will require that payments are made in full before commencing the Chapter 7 bankruptcy case. The reason for is that a Chapter 7 bankruptcy discharges debts, which includes attorney’s fees. As such, Attorneys avoid agreeing to payments after a Chapter 7 bankruptcy case.
3. Find an attorney that accepts payments in installments before filing Chapter 7
If you make adequate research, you may find a bankruptcy lawyer that receives payment on installment before filing for Chapter 7 bankruptcy. The moment you start paying, the attorney’s office should start receiving calls on your behalf and start working on your bankruptcy forms. The attorney will file bankruptcy cases often when you make full payments.
4. Request Free Legal Aid
You may qualify for legal aid if your monthly income is low enough. The government will assign you an attorney that can help you with the case. Some states have an alliance with the State’s Bar Association to offer a Pro Bono program. But in other states, there are legal aid offices that you can approach for help.
5. Request a Waiver of the Cost of Bankruptcy Courses and the Filing Fee
The chances are high that you’ll qualify for a waiver of the Chapter 7 filing fee if your income level is low. Alternatively, you may be asked to make payments in installments. To do this, you should first fill the bankruptcy official form B3A, which is an application for a bankruptcy fee waiver. You should submit the form with your Bankruptcy petition.
It’s possible that you get a waiver of both bankruptcy course fees. To determine if you qualify for this waiver, you must work with the company providing your Debtor Education Course and Credit Counseling Course.
6. Borrow money from a Family Member or Friend
Some individuals pay for the fees attached to Chapter 7 bankruptcy by borrowing from friends and family. However, you need to exercise caution with this as you can’t pay those individuals before or during the Chapter 7 case.
The bankruptcy court will ask that you disclose such debt in the bankruptcy case; the court will most likely discharge those debts. Although the debt has officially been discharged, you could repay the money so as not to hurt the person’s feelings.
7. File Chapter 7 without an Attorney
It is not necessary that you file for a Chapter 7 bankruptcy with an attorney. People have done it and gotten a bankruptcy discharge; you can also do that if you have adequate knowledge of the process. If you want to acquaint yourself with the right knowledge for this, you simply have to take a dig into the internet.
You can check on tryascend.com for an overview of the Chapter 7 process and use the Chapter 7 calculator to know if you’ll qualify for a bankruptcy discharge. You can also check the United States Court’s website for more information about filing bankruptcy without an attorney. Most local bankruptcy courts have detailed information on their website on how to file bankruptcy without an attorney.
Check out Nolo for a guide to Chapter 7 bankruptcy online—you’ll find it helpful if this is your best route. Although it is not a legal advice, the content of the site can be used as a step-by-step guide to filing Chapter 7 bankruptcy.
Due to the regular changes in the bankruptcy rules and laws, the information used in calculating the means test also changes often. You should make sure that you’re using the latest information if you opt to file for bankruptcy without an attorney.
Be Careful if you file Chapter 7 without an Attorney
You should be very cautious if you’re filing for bankruptcy without the input of an attorney. This is because the process is irreversible when it begins. For example, if the Chapter 7 Trustee decides to sell your home, then you can’t stop the process. And a little mistake in the documentation process may result in the bankruptcy court rejecting your application.
An alternative to Chapter 7 bankruptcy is by filing for Chapter 13 bankruptcy. Chapter 13 offers an advantage that attorneys charge their fees in the Chapter 13 plan. If you’re open to more options, you should explore other alternatives to bankruptcy.
You are being called by Transworld Systems, a debt collector at 8552457098, and want to know your bankruptcy cost option. Hopefully, you now know the costs of the different options.