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The Chapter 7 bankruptcy catch-22: How to pay for it

On Behalf of | Nov 8, 2016 | Chapter 7 Bankruptcy, Firm News

Florida residents who are overwhelmed by debt are often struggling to make ends meet. Even if they want to file for Chapter 7 bankruptcy, many people do not believe that they can afford it. This is the catch-22 that many might consider to be a roadblock that they cannot get past while they search for freedom from their debts.

Because they do not believe that they will be able to pay for an attorney, many Florida residents do not even make the call. However, there are attorneys who would be willing to set up a payment plan that might be feasible. It might take longer to actually file, but it would be better than simply not filing at all.

Some attorneys will allow payments to be made for somewhere between three and six months, but nearly all will require full payment prior to filing the petition. In the meantime, the attorney might agree to deal with an individual’s creditors, which could provide some relief to him or her. The court often allows filers to make up to four payments for the filing fee. When this arrangement is available, it can give individuals the chance at a fresh financial start.

Other ways to pay for filing Chapter 7 bankruptcy also exist, but before taking any drastic measures, it would be a good idea to at least talk to an attorney. The financial stakes are too high not to at least try. If an individual is able to file, debts that have been a burden could be discharged, which would provide a clean slate upon which to start again financially.

Source:, “How to Pay for Bankruptcy When You’re Broke“, Oct. 27, 2016

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