How Can I File Bankruptcy with No Money?

The possibility of filing bankruptcy with no money seems bleak if you don’t know what you’re doing. You should know that the process of filing bankruptcy doesn’t always require you to have money to spare.

Usually, people apply to bankruptcy courts to exempt themselves from the filing fee. Once they have been exempted, they can file bankruptcy for zero costs. When filing bankruptcy, two of the chapters under the Bankruptcy Code can be your best shots. They are chapter 13 and chapter 7. These provide relief to the consumers who are burdened with the piled-up debts.

Usually, people who receive monthly income on regular basis can file bankruptcy under chapter 13. This plan allows an individual to pay the debt as per the repayment plan designed for them. You can’t apply for a fee waiver if you’re filing for Chapter 13 bankruptcy. Filing for chapter 13 bankruptcy has its own complexities. Hiring a lawyer who can tackle the difficulties when filing bankruptcy can be one of the best decisions you make.

Even if chapter 13 bankruptcy does not provide you with the option to file bankruptcy with no money, chapter 7 bankruptcy does. All those people who have little or no money may consider starting fresh with chapter 7 bankruptcy. Under this bankruptcy, you can ask for a fee waiver.

Some additional costs can be avoided when filing chapter 7 bankruptcy. These may include court fees, lawyer fees, and the like. However, these costs can be avoided without much of a hassle.

How do you request a judge in the bankruptcy court to waive your court fees? You can do it by merely applying to the bankruptcy court. It’s that simple.

If you need any help before or while filing bankruptcy, reach out to us at Segaul Law.

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