Financial concerns can make struggling Florida residents question every use of their money. Even when it comes to finding debt relief, they may wonder whether they should put funds toward a particular method. These worries are valid as some companies claiming to offer relief may only make matters worse. However, utilizing a proven method such as Chapter 7 bankruptcy may be worthwhile.
Bankruptcy can and has helped numerous people get their finances back on track after facing considerable debt. Of course, it will cost most individuals some money in order to get the ball rolling on this relief avenue. In particular, for 2018, the federal court set the basic filing fee for Chapter 7 bankruptcy at $335. Because this is the amount applicable for basic fees, there may be circumstances that lead to more costs.
Some people may balk at the idea of having to spend that much to file for bankruptcy when they are already struggling, but fortunately, there are options for assistance with these fees. Individuals may apply to have their fee payments broken down into installments, or parties may apply to have all fees waived. In order to obtain assistance, certain qualifications must be met.
In hopes of reaching goals, sometimes sacrifices need to be made. In the case of filing for Chapter 7 bankruptcy, spending some money may help Florida residents achieve financial freedom. If struggling individuals are interested in potentially utilizing this method to address their debt concerns, they may wish to find out more information on benefits, qualifications and other related aspects.
Source: thebalance.com, “How Much Does It Cost to File for Bankruptcy?“, Latoya Irby, April 2, 2018