What is a low cost way to file bankruptcy?
I live in Michigan and need to file bankruptcy. However, even doing that costs money that I really don't have. I know that I can file it myself and save on lawyer fees, but I don't know how hard the paperwork is to do.
I don't own any real property, nor do I have any mortgage debt. I currently do not have any income – I'm going to school. Mostly its credit card and various other stuff thats almost 5-8 years old now.
Has anyone done this before? And how difficult was it?
Or if I should pay to have it done, does anyone know of a low cost way to go?
Thanks ahead of time!
The debt amount is around ,000
Posted June 24th, 2009 in Bankruptcy Q And A. Tagged: 8 years, bankruptcy, costs money, credit card, lawyer fees, mortgage debt, paperwork.
I definitely would, if at all possible, have an attorney handle your bankruptcy case first and foremost. If you can't do that, then what you'll be doing is filing yourself, which is referred to as filing "pro se". If the paperwork is concerning you, you can try using a bankruptcy software like the one at http://www.standardlegal.com and for more information on bankruptcy costs, check out this article: http://www.filingforbankruptcyonline.com/bankruptcycosts.html – hope this helps.
June 24th, 2009 at 9:53 pmI am sorry, but I don't have a low cost solution for you. I am in the same circumstance, but have heard that there are attorneys that will take monthly payments. Best of luck to you.
June 24th, 2009 at 9:53 pmHow much debt is there?
June 24th, 2009 at 9:53 pmMost attornies will not take payments, because you can list attorney fees in the bankruptcy. They want the money up front before they will file. If you find one that takes payments, it's probably going to cost you a lot of interest.
With the new bankruptcy law that took effect last November, bankruptcy is noe more complicated than ever. Normally, I would recommend going to a para-legal, becaue if the paperwork isn't filled out just right the Court will reject your petition.
Also, if you try to do it yourself, you may make mistakes that could get your case thrown out or rejected. You need to hire an attorney.
Contact Legal Aid. This is an organization that assists folks with little or no money with legal issues. They work on a sliding scale, and they are not out to make money. Pehaps they can assist you.
My attorney was about $1800., but I know some are a lot less. It's best to retain an attorney who specializes in bankruptcy law.
June 24th, 2009 at 9:53 pmi would fight to pay off the debt. get a job. dont file bankruptcy. its for life. true, it falls off your credit report after 7 or 10 yrs depending on which type of bankruptcy you file. But, loan applications and many job applications ask if you have ever filed bankruptcy. Ever. If you lie to get a loan because your bankruptcy is very old, technically you have committed criminal fraud. fight to pay them what you owe and get on with your life.
June 24th, 2009 at 9:53 pm