There is good and bad news when it comes to the question "Can I file bankruptcy for free?" The good news is yes this is possible. According to the bankruptcy code, any debtor whose income is below 150% of the official applicable poverty line for their state and family size, can qualify to waive the chapter 7 bankruptcy filing fee. To determine if you qualify You would need to take your current annual income divide it by the applicable poverty line amount. If the answer is less than 1.5 you would qualify. You will have to provide proof of your income to the court.
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If you do qualify, now you will have to complete your bankruptcy petition yourself. You can get free federal bankruptcy documents online. You could even purchase a bankruptcy guide at a low-cost on Amazon.com that has the forms and instructions. You will need to do your research on the bankruptcy procedure in your state along with exemptions. Some states require you to add certain state specific forms. You will also need to get the application to waive the filing fee. You should be able to find this on the US bankruptcy courts website.
The bad news is that this will take time, patience, and is not easy to achieve. Don't get discouraged it is very possible to successfully file bankruptcy for free, yourself! I strongly suggest if you are going to try this to get a free consultation from an attorney before starting. Be sure to ask which supplemental forms you would need.
I cannot say you have nothing to lose because you do. If prepared incorrectly your bankruptcy can be denied and your valuable time lost. So proceed with caution. I believe there are lots of debtors out there who really cannot afford professional bankruptcy help.
Paying the filing fee in installments is also a possibility, only if you have not paid anyone to prepare your petition for you. So in other words if you pay an attorney or bankruptcy petition preparer to complete your bankruptcy forms on your behalf, you do not qualify to pay your filing fee in installments. If you prepare your petition yourself or if someone assists you at no charge, you can pay the filing fee in installments over a 180 day period. This application must be turned in with your petition.
I hope this article answers the question, "can I file bankruptcy for free?" Bankruptcy can be very complicated but anyone can learn. All the resources you need can be found online. If you think you can do your own bankruptcy you should thank the stars for the World Wide Web.
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