Filing for Bankruptcy is not costly, and it has the potential to relieve a significant amount of your debt. However, if you truly cannot afford the costs of Bankruptcy, there are other options for you.
A bankruptcy petition must be accompanied by the appropriate filing fee unless the debtor desires to pay the filing fee in installments, or obtain a waiver thereof. Chapter 7 filing fees are $299 and Chapter 13 filing fees are $274.
If your application to pay in installments is approved, the fee may be paid in up to four installments, with the final installment due within 120 days after the petition was filed, no later than 180 days after filing.
A waiver of Chapter 7 filing fees can be filed with the petition. You must show that your household income is less than 150% of the official poverty line for your family size and that you are unable to pay the filing fee in installments. The filing fee cannot be waived in a chapter 13 case, but it can be paid in installments.
If you hire a bankruptcy attorney you will also have to pay the attorney’s fees you agree to.
In some cases, Attorney Stephen Vokshori works with clients and discovers that bankruptcy is not in their best interests, and that loan workouts are better options.
Hiring an attorney is the most effective way to file. However, if you are eligible for a Ch 7 and truly cannot afford attorney’s fees, you may represent yourself as a pro se or in pro per debtor and are able to self-file and use free legal aid resources such as Public Counsel to obtain the information, forms, and advice you need.
Vokshori Law Group provides Bankruptcy assistance to individuals and businesses serving the entire Los Angeles County.
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