Can I File For Bankruptcy For Free

Many consumers who are facing the possibility of filing personal bankruptcy are not only concerned with the personal costs to their credit, finances and assets, but also wonder about the monetary costs of filing. "Can I file for bankruptcy for free?" is a question that many individuals ask when considering this option. It is generally not a free filing with any court since there are forms, documents and other informational requirements that must be submitted even if an individual does all the legal work alone. Usually, a chapter 7 bankruptcy can be filed for under $200 and a chapter 13 bankruptcy filing can be secured for under $300.

That, of course, is not considering any attorney's fees, legal advice or professional financial advice that may be needed to receive the best court judgment possible in these types of cases. Asking, "Can I file for bankruptcy for free?" will generally receive an answer that free evaluations can be received through many legal offices, credit counseling agencies and other financial management groups. Many businesses and organizations offer free analysis of an individual's circumstances as well as free advice on how to proceed if filing personal bankruptcy. Oftentimes an evaluation and counseling is well worth the time that is spent in determining what option is best for anyone who is in a fiscal jam.

If a person wishes to pursue a cheap solution, he or she can choose the option of filing personal bankruptcy themselves. However, it is important to learn how the current laws in the particular state that it is filed will affect the individual. These laws are often complicated and affect consumers in different ways according to their financial, marital and parental status. What may have been a protective measure for some groups in the past, may not be available since the current legislation. For example, single mothers or non-custodial parents are severely affected by the recent laws with single mothers hit the hardest. Many single mothers wonder "Can I file for bankruptcy for free?" because they are not able to secure the services of legal counsel who may be able to decipher the current laws for them as well as file legal papers to begin the process. "I have been young and now am old, yet have I not seen the righteous forsaken, nor his seed begging bread." (Psalm 37:25)

In any case, it can be cheaper if an individual files, providing he or she has adequate legal knowledge to receive the benefits of the laws. There are online forms that can be downloaded for personal use as well as online information that instructs how to file. Applications cannot currently be filed online, but must be filed through the proper court proceedings. Before making the decision to file for a chapter 7 or chapter 13, it is best to actually determine if there are any other alternatives. Some people may rush to judgment and circumvent solutions that may prove to be more advantageous. Many bankruptcies occur because of overwhelming circumstances due to illness, family upheaval or job loss. There may be other avenues that are available that can provide free help, counseling and debt solution alternatives before having to resort to filing personal bankruptcy from desperation.

There are many debt solutions such as consolidations, budget management education, and debt negotiations that are offered through many businesses and agencies. Free consultations are available through credit consumer agencies and Christian ministries that specialize in dealing with personal finances. Only after investigating other options are bankruptcies suggested as a cure for mammoth financial set backs in anyone's situation. At that point asking, "Can I file for bankruptcy for free?" is a reasonable exploration. Although anyone can file on their own, it is suggested by experts to secure some legal counsel in order to determine the best options available for any particular case. There are many things to consider such as earnings, debts, dependants, and holdings which can require a different strategy in each case. As already mentioned, there is the current change of laws that must also be carefully addressed in order to receive the greatest benefits from this action.

In the best case scenario, chapter 7 and chapter 13 offer a chance to have a fresh start financially after experiencing devastating setbacks in personal finances. They also provide protection from creditors by putting an automatic hold on all assets and debt collections which then allows the court to efficiently and thoroughly produce a legal and binding judgment that is fair to both parties. While this may be a breath of fresh air for many people who are smothered by financial strain, it also has it consequences of poor credit, higher interest rates and restrained spending in order to rebuild fiscal stability. While filing personal bankruptcy may be the best alternative for many people, it is generally wise to receive advice, counsel and legal management in these matters. Check out the many online sources available that offer information, forms and current trends in the law regarding bankruptcies.

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