Low Cost Bankruptcy The Irony

One of the most difficult things about filing for bankruptcy is the costs assoicated with it. It seems ironic that you have to find money to declare that you have no money.

But there are some small ways in which you can make your bankruptcy more affordable.

The bankruptcy minimum costs that you will have to pay upfront are about $350. These are the costs to file your bankruptcy in court and to pay for your credit counseling for bankruptcy which you do have to complete before you file.

However, you can potentially claim some or most of these costs. It all depends on your income level. If you have no income what so ever then your chances are greater. So

• check with your bankruptcy court specialist in your local area and they will advise you and also give you the forms that you need to fill in to claim for a refund.
• confirm with whichever credit counseling specialist or agency in advance about how you can also re-claim their costs.

Affordable Bankruptcy

The cheapest way to file for bankruptcy is to do it yourself. Ok so you might not have the expertise but there are certain things you can do here to fill that gap.

Most good bankruptcy attorneys offer a free consultation. So you could avail of this to help ascertain things like what type of bankruptcy you should file for etc.

You could in fact have a couple of free consultations with different lawyers! To make the most of this service, you really need to prepare:

• have a list of every person or organisation you owe money to
• have a list of all the income and money coming into your home, whether it is yours or your spouses
• have a list of anything you own that has value attached to it for example equity in your house, (not small items but big ones like say an auto that could be sold for several thousand)
• then make a list of all your questions, and concerns.

You are now fully prepared to make the most of your free advice session. You would be surprised how much information you can get from a good consultation call.

The next great free resource will be the clerk or bankruptcy person in the court that you will be filing. You can telephone them and ask for help. Generally they are very helpful.

If you are using a bankruptcy specialist or attorney, then speak to them about a spread or scheduled payment method. Many attorneys will allow you to pay over time and not upfront, though they will most likely want a deposit of some sort.

When looking for a bankruptcy attorney, make sure to shop around. Never go for the cheapest option. You may want a low cost bankruptcy but at the same time you do not want it to cost you more in the long run because you paid for a sub standard job.  So keep away from those cut price offers.  You know the ones.  If it sounds too good to be true then it is that so move away.

It could be argued that there is no such thing as affordable bankruptcy, however the above are some of the ways which can help you to file a low cost bankruptcy.