Can You File For A Free Chapter 7 Bankruptcy
If you are overwhelmed by debts and financial obligations, you could feel as though there is an enormous weight sitting on your shoulders all the time. Financial stress can cause a host of physical maladies, from headaches and body aches to more serious illnesses. There are options for those struggling to pay bills, and one way to alleviate some pressure from banks and creditors is to file for Chapter 7 bankruptcy.
This guide will help you understand Chapter 7 bankruptcy, including how to file for it on your own—as well as whether bankruptcy Chapter 7 is free. DoNotPay understands the pressure of debt and can help answer all of your questions about bankruptcy.
What Is Chapter 7 Bankruptcy?
There are different kinds of bankruptcy to file for, and depending on your financial situation, one might work better for you than another. Chapter 7 bankruptcy is often called liquidation bankruptcy and works to clear away unsecured debts. To qualify to file Chapter 7, you will need to earn less than the median income for your state or have another valid reason that you are unable to pay back your debts. Once you file for Chapter 7 bankruptcy, the court places a temporary stay on current obligations, stopping creditors from garnishing wages and repossessing property.
Is It Free to File Bankruptcy Chapter 7?
You might be wondering if it's free to file bankruptcy Chapter 7. Although Chapter 7 bankruptcy can help you with some large debts, there are still fees associated with it.
Here are some fees you might expect to pay out when you file Chapter 7 bankruptcy:
|Bankruptcy lawyer fee||$500 to $10,000|
|Filing fee||around $335|
|Credit counseling and administrative fees||around $200|
|Trustee surcharge||around $15|
How to File for Chapter 7 Bankruptcy on Your Own
If you think you want to file Chapter 7 bankruptcy, here's how to start the process on your own.
- Compile a list of your assets, income, and debt, as well as any liabilities that you have.
- Fill out all associated forms for Chapter 7 bankruptcy, which will ask you detailed questions about your debts, current income, and spending habits.
- Once completed, you can submit all the forms to your local district bankruptcy court.
Be prepared to pay the associated fees when you file for bankruptcy. You might be paying out a lot of money upfront, but filing Chapter 7 bankruptcy might give you some breathing room and allow you to get out from under your overwhelming doubts.
How to Use DoNotPay to File for Chapter 7 Bankruptcy
Filing for bankruptcy on your own can be overwhelming, stressful, and time-consuming. You could end up struggling with various forms and making numerous phone calls—all while dealing with the stress from your financial obligations.
DoNotPay wants to help you—here's how to file for bankruptcy using DoNotPay, in just five easy steps:
- Search for File for Bankruptcy on DoNotPay.
- Put together a list of your debts, expenses, and assets. If you need help accessing information like your credit report, DoNotPay can help you get your report.
- Let DoNotPay walk you through your bankruptcy options and help you determine whether a Chapter 7, Chapter 12, or Chapter 13 bankruptcy is right for you.
- DoNotPay will then help find the best credit counseling course near you, which you need to complete before filing your bankruptcy forms.
- Lastly, DoNotPay will gather all of the forms you need (including available fee waivers) and help you locate your nearest bankruptcy court. All you have to do is complete the required forms, prepare your filing fee, and file the application with your local court.
And that's all there is to it. Once done, the court will give you three things: your bankruptcy case number, the name of your bankruptcy trustee, and the date, time, and location of your meeting with your trustee. When you get to this point, your case has been filed. The automatic stay now protects you from all debt collectors. Your trustee will then contact you for further financial documents you will need to provide. Make sure to attend your meeting and complete the post-filing bankruptcy debtors course.
DoNotPay Can Help Answer All Your Questions About Debt
If you have other questions about bankruptcy and debt, DoNotPay can help. Here are some other topics DoNotPay can help you with:
- What is bankruptcy Chapter 13?
- Different types of bankruptcies.
- What is the downside of filing for bankruptcy?
- How much does it cost to file for bankruptcy?
- How long does bankruptcy stay on your credit report?
- What is a 609 letter?
- Get a debt verification letter.
- What happens when you file for bankruptcy?
- Learn about filing for bankruptcy
- What is Chapter 7 bankruptcy?
DoNotPay Offers Other Services as Well
DoNotPay has gone out of its way to create some fantastic services for its customers, including:
- Cancel any subscription or service
- Credit cards
- Divorce settlement agreement
- Find lost airport items
- Hotel upgrades
- Late delivery refunds