How to File Chapter 7 with No Money

Greeves & Roethler, PLC

We often get questions from clients wondering how they are going to afford to file bankruptcy when they don’t have any money and need to file bankruptcy.  It seems to be a bit of a catch-22, however, this is usually less difficult than most people think it will be.  There are several different ways that you can afford to file Chapter 7 Bankruptcy without any money.

Payment Plan

Probably the easiest way to afford to file bankruptcy is to use our payment plan.  We offer a payment plan with $0 down in attorneys’ fees.  Unfortunately, that does not cover the cost of the filing fee and the credit report, which, as of September 1, 2018 is a combined total of $375.  Updated fees can be found on the bankruptcy website here.

After we file your case, you make our payments which start at $50 every other week.

Borrow Money

Another common strategy people use is to borrow money from relatives and/or friends.  Understandably, this is not most people’s preferred way to gather the funds as it can be embarrassing to talk about bankruptcy with your friends and family. 

Stop Making Payments on Your Debts

If you have enough time, which most of our clients do, you can simply stop making payments on most of your debts and save the money yourself.  This is the way most of our clients gather the funds to file for Chapter 7 Bankruptcy.  Once you stop making the payments on your credit cards and other debts, you will find that quite a bit of money is often freed up to afford to pay for bankruptcy. 

Now you know how to file chapter 7 bankruptcy with no money.  Please let me know if you have any questions.  If you are curious about our fees, please subscribe to our newsletter and get our fee schedule.

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