Need To File Bankruptcy? Two Tips To Help Make It More Affordable To Do So

Posted on: 23 December 2015

When you've gotten to the point where you simply can't see your way out of a bad financial situation, it may be time to file for bankruptcy.  However, the quandary that you may find yourself in is that you don't have enough money to pay your bills while simultaneously being unable to afford to pay a lawyer to get the filing done for you.  The average price to file for Chapter 7 Bankruptcy can cost as much as $1530 dollars, and it may be difficult for you to pull this together.  Use this information to learn more about what you can do to make bankruptcy more affordable for you. 

Contact Your Local Legal Aid Society

The first step you should take when you need to file bankruptcy on a limited budget is to contact a local legal aid society.  These organizations are run by legal professionals who want to make it easier for people with limited funds to have access to quality representation.

Attorneys who are a part of legal aid societies typically work on a pro bono basis.  This means that they offer their services free of charge to the public.  Your bankruptcy attorney will file all of the necessary paperwork and provide legal counsel to make sure that your bankruptcy case is as tight as possible so that it will be granted.

Legal aid societies can be found situated all across the country.  You can use the Internet, or your local city directory to find the closest legal aid chapter to you.

Consider Filing A Chapter 13 Bankruptcy

Another option you can use if you need to file for bankruptcy with no cash is to file a Chapter 13 Bankruptcy.  The Chapter 13 Bankruptcy differs from a Chapter 7 because your debts are not totally liquidated.  They are restructured into an affordable monthly payment that fits within your budget.  

When you file a Chapter 13 Bankruptcy, you can actually include your attorney as a debtor.  For example, if your attorney charges $1000 dollars to complete the bankruptcy filing, you can include this sum as one of your debts under the Chapter 13.  As you submit your monthly payments to the court-appointed trustee, the trustee will then give a portion of the payment to your attorney to pay off the debt.

You don't have to keep trying to stay afloat in a sea of debt because you lack money.  Use this information right away so you can get the financial relief that you need.  Contact a local professional, such as Arthur M Richard , for further assistance.


Figuring Out My Finances

For years, I lived on the edge of a paycheck. I was always running out of money, wondering when I would be paid next, and hoping for extra bonuses. Unfortunately, one day my luck ran out, and I found myself without a way to pay my rent. My landlord wasn't patient with me, and I actually got kicked out of my place. It was devastating and embarrassing, but I knew that there had to be a way to repair my finances. I met with a bankruptcy attorney to talk with me about my debts, and she was incredibly helpful. After seven years, I was able to completely correct my credit, and it has changed my life. Check out this blog to learn more about bankruptcy.

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