File for Free

Need to file bankruptcy? Can’t afford the chapter 7 bankruptcy $335 filing fee? You can ask the courts to waive your filing fee. To find out if you qualify use the charts below. You will ahve to be 150% or below the federal poverty guidelines. In order to figure this out take the annual income for your household size and divide it by two. Then take that number and add it back to the annual household income for your size. If your household makes less than this then you qualify to have the filing fee waived. For example, if the annual household income was $10,000 you divide this by two to get $5,000, then you add the original amount of $10,000 back to it for a total of $15,000. So if your annual household income was below $15,000 you would qualify.

2016 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES
AND THE DISTRICT OF COLUMBIA
Persons in family/householdPoverty guideline
For families/households with more than 8 persons, add $4,160 for each additional person.
1$11,770
215,930
320,090
424,250
528,410
632,570
736,730
840,890




2016 POVERTY GUIDELINES FOR ALASKA
Persons in family/householdPoverty guideline
For families/households with more than 8 persons, add $5,200 for each additional person.
1$14,720
219,920
325,120
430,320
535,520
640,720
745,920
851,120

 

2016 POVERTY GUIDELINES FOR HAWAII
Persons in family/householdPoverty guideline
For families/households with more than 8 persons, add $4,780 for each additional person.
1$13,550
218,330
323,110
427,890
532,670
637,450
742,230
847,010

Easy Bankruptcy




Chapter 7 Bankruptcy is one of the most common types of bankruptcy to file for most people. There are certain things you need to address before you file for a chapter 7 bankruptcy.

Some of these may include:

  • How much income you make.
  • Whether or not you filed for bankruptcy in the past eight years
  • What types of assets you may have

    Some of the reasons you may want to file for a Chapter 7 Bankruptcy are:

  • Stop wage garnishment
  • Stop foreclosure
  • Stop repossession
  • Large medical bills
  • Recent job loss
     




    The assets aspect of it is more in making sure the exemptions available to you will cover any equity in the assets that you may have.

    There are also some reasons that you may want to take into consideration in filing a Chapter 13 Bankruptcy instead of filing for a chapter 7 bankruptcy, even though you might qualify for one.
    Some of those reasons may include:

  • Having too much equity in an asset that is not covered by an exemption.
  • You are behind on a secured loan that you may want keep like a car or your house.
  • You have assets that you want to keep and are not covered by exemptions at all.
  • You have tax obligation, student loans or other debts that cannot be discharged in bankruptcy.
  • You have the desire to pay back your debt owed and just need time to do so.
  • You have a codebtor on a loan that would be responsible for it if it was discharged.

    Here is a list of some of the items you will need to gather for your attorney in order to get started with your bankruptcy:

  • A list of your creditors, addresses, amounts owed and account numbers
  • A list of all of the property you own and an idea as to the value of it.
  • Legal description of any real estate you may own.
  • Your Monthly Income and Expenses.




    To value your property take into account the age of the item and what the current market can bear for it. A good place for comparison is eBay.
    Nadaguide is a good place to look for your car value and is accepted as a source by US Trustees.
    When valuating your house most people use their property tax values. In today’s market if you have a lot of equity
    You might want to consider an appraisal; this might come in lower than the current tax assessment.




  • Chapter 7 Bankruptcy

    Chapter 7

    A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. (uscourts.gov)




     




    Chapter 13 Bankruptcy

    Chapter 13

    1. An individual who is badly in debt can file for bankruptcy either under Chapter 7 (liquidation, or straight bankruptcy), under Chapter 13 (reorganization), Chapter 12 (family farmer reorganization), or under Chapter 11 (reorganization of a company, or an individual debtor whose unsecured debt exceeds $383,175.00 and/or whose secured debt exceeds $1,149,525.00).