Chapter 7 bankruptcy, which allows you to liquidate and discharge most unsecured debts when you can’t afford to pay them, can be the opportunity you need for a fresh start. If you’re worried about the costs and whether you can even afford to take bankruptcy, we understand that this can be a difficult decision. To help you better understand your options and make the best choice for your family and your future, our bankruptcy attorney in Florida is sharing how you can file for Chapter 7 with no money.
The minimum cost of filing for bankruptcy is the $338 filing fee in court. On top of this, you must also take an approved credit counseling program and debt education class within 180 days prior to filing in order to submit the Certificate of Credit Counseling with your petition. These programs vary in price, but on average, they are between $50 and $100 to take both classes.
The good news is that you can make payments on your filing fee, and if you can’t make the payments, waivers are available. Your combined family income must be below 150 percent of the federal poverty level for your family size in order to be approved for the waiver.
In addition to the necessary costs, many people choose to hire a bankruptcy attorney to help them navigate the process and achieve a more favorable outcome. Also, many bankruptcy attorneys are recognized to provide debt counseling, allowing you to save money on the required programs. While lawyer fees vary depending on the complexity of the case, average rates in South Florida are between $1,000 and $3,500.
When an individual needs to file for Chapter 7 with no money, they may choose to forgo legal representation. It’s important to understand that while you may save money upfront, you may lose money in the long run on your bankruptcy. Let’s consider the factors that many people aren’t aware of:
As we said above, legally, you have the right to file for bankruptcy without legal representation, but you are more likely to lose property, have your case dismissed, or the process can take significantly longer and cause more stress than necessary. Having an attorney on your side to ensure you keep your property when possible, have your paperwork in order, and push back against creditors can help you achieve a more favorable outcome.
At Stiberman Law, we are dedicated to helping people navigate the complexities of bankruptcy to help them get the fresh start they need. We understand that filing for Chapter 7 with no money is scary and overwhelming, but our payment plans and affordable costs can ensure you get the representation, advocacy, and guidance you need for a better future, and we are able to complete your debt counseling. Call us today for a free consultation at (954) 922-2283 or fill out the form below to get started.
Speaking to our law firm is always 100% confidential. We do our best to respond to inquiries in under 24 hours.
We’ll get in touch as soon as possible.