Filing for bankruptcy is considered as the next best move for individuals facing serious financial problems. It will help their finances get back to track as assets will be used for paying debts while getting the chance to fix their finances after being discharged of bankruptcy.
If there’s one thing people dread about bankruptcy is the fact that they still need to spend money to fix their financial issues. Their reason for filing bankruptcy is fixing their financial issues. The last thing they wish to do is to spend more money on the process. Luckily, it’s still possible to complete this procedure without spending expensive fees for the procedure.
Is It Even Possible to File for Bankruptcy for Free?
It’s definitely possible to file for bankruptcy at no cost. An individual simply must know which aspects of bankruptcy process will spend him a great deal of money. There are also a lot of individuals willing to extend their assistance for free. A debtor can also take note of other free references that can be used in turn of getting assistance from experts.
What are the Ways an Individual can Incur Bankruptcy Fees?
Perhaps the most significant expenses a debtor will incur is consulting a bankruptcy lawyer. As a legal expert, a bankruptcy attorney charges fees for his services. He’s a proven expert in the field who can give professional and sound advice to a person filing for bankruptcy. Hence, his fee should cost a lot, which is similar to hiring a lawyer to deal with criminal and civil cases.
To save money, an individual can eliminate the need for bankruptcy lawyers to assist in the case.
Tips for Free Bankruptcy Filing
There are several ways to file for bankruptcy for free. Or even if it’s not going to be completely free, an individual can still save a lot of money.
Go Pro Se
Going pro se means filing bankruptcy yourself. This means you’ll be the main person preparing everything required in a bankruptcy case. Since you won’t get any assistance from a legal expert, you would need to research about documents to prepare. As the account owner, getting your financial documents shouldn’t be a problem. The only thing you should know is the document types to collect and use for bankruptcy.
Since you’re filing yourself, you’ll go hands-on on every procedure required for bankruptcy. You’ll be the one analyzing receipts and other financial-related documents. Going to bankruptcy court and filing your case is also a part of your itinerary in going pro se. Handling everything yourself may be tiring, but you will definitely lessen expenses that come with the process.
Read, Read, and Read Online Resources
Although you will do a lot of things yourself, be confident about the process as online resources are available to be your guide. The internet is rich in information an individual need for bankruptcy filing. Information are provided by bankruptcy lawyers, legal organizations, and other individuals who filed for bankruptcy themselves.
Reading online resource will be your first order of business. Simplifying a procedure begins by knowing more about it. You’ll be prepared with the entire banking process and the documents you’ll need. You know the direction where the procedures will go and prepare yourself with the entire process.
Consult with Free Legal Clinics or Societies
There are free legal clinics or societies that help individuals save money on the bankruptcy process. These groups dedicate themselves in assisting individuals with financial and legal problems. They provide free services like consultation or assistance in the filing process.
Finding these organizations is easy. They are connected with local government offices and have their organizations’ directories listed in these offices. Some bankruptcy courts are even connected with these organizations. An individual visiting a bankruptcy court can check out their information on site then visit them for consultation. The bankruptcy court can also recommend their services if you tell them that you’re short in budget for bankruptcy filing. Telling others about your lack of money for the procedure may be embarrassing, but they won’t mind it as they know people filing for bankruptcy are probably broke and just need a service that will lighten their financial problems.
Enlist the Assistance of Other Organizations’ Free Services
Aside from free legal clinics, organizations like non-attorney petition preparers can also be helpful for bankruptcy filing. They are people who can help fill out documents for you as well as telling you of the documents needed in the process. In hiring their services, they must sign the documents where they assisted complete with their names, addresses and social security numbers.
While their services are for free, their assistance are limited to the encoding aspect of your documents. They can’t give legal advice regarding your case, assist to the entire bankruptcy filing process, or sign documents for you.
Negotiate Attorney’s Fee
Attorneys set a certain amount of fees for their services, but it doesn’t mean that they will only stick to their rates. It’s possible to negotiate for their fees by telling them of your financial situation. Some may budge and give you lower fees, but take note that not everyone will give discounted rates.
Work with a Pro Bono Attorney
One of the best ways to get legal assistance for free is by working with a pro bono attorney. A pro bono attorney is a legal expert extending his services for free. He can be a part of local government offices and gain salaries from other entities like government or legal association. Some regular bankruptcy lawyers may accept pro bono cases from time to time as their form of charity. Take note that choosing a reliable pro bono atorney is important. Since they are working for free, it’s possible that some of them may do a mediocre job.
Go for Chapter 13 Bankruptcy
Some legal experts may recommend a debtor to file for Chapter 13 bankruptcy instead to take advantage of their services. Chapter 13 bankruptcy allows a debtor to pay debts, legal expert fees included, in a repayment plan of five years. It means the attorney will still get his fees, but the repayment will be lighter on debtors’ pockets.
Filing for a no-cost bankruptcy is possible. Take note of these tips and file for bankruptcy without problems free of charge or with significantly lowered price.