Many debtors feel bankruptcy is their final option in helping them regain
financial control. While there are filing fees and credit counseling fees
that are required, many wonder how they can pay if they can’t afford
to pay their creditors. You may even have the notion of saying why bother
paying for an attorney when that money can be put toward my bills? There
are a few valid points to review in this scenario while determining how
you can pay for bankruptcy filing.
Fees associated with filing are not as expensive as you may think. You
can compare your options when it comes to choosing an attorney and those
who are seeking
Chapter 7 bankruptcy actually get a good return on their investment. Many filers of this chapter
easily qualify to have their debts eliminated (discharged) and have greater
chances of getting the fresh start they need.
You don’t have to worry about paying any hidden costs since many fees
are paid upfront or considered a flat fee. But, in many cases you can
retain a bankruptcy attorney and make payments prior to your case being
filed with the court. With stipulations under the Fair Debt Collection
Practices Act, creditors are not obligated to contact you and they are
less likely to take any legal action against you as long as you have an
attorney retained.
This leaves a few options you can consider discussing with your attorney
as far as how to pay related fees including borrowing from friends/family
members, payment through income tax refund, or even selling an asset before
your case is filed. As long as your actions are reviewed with your attorney
before you file you can avoid any repercussions during and after your
case is completed.
Reference:
http://www.txbankruptcyblog.com/2013/12/articles/debt-relief/how-to-afford-chapter-7-bankruptcy/