A Chapter 7 bankruptcy filing case can provide relief to individuals who have huge amounts of debt. However, for people with limited amounts of financial resources, the case filing cost can be a significant problem. Fortunately, it is possible to file a bankruptcy case without any charges upfront. The procedure is complex, and you might need the help of an attorney. 

When you are burdened with debts, the last thing you want to do is hire the services of an attorney for obvious reasons. Attorneys have a fee to charge, and you may wonder how you will pay them when you cannot even pay the other debts. To learn more about your rights and legal options, consult a legal counsel today. 

How to file a bankruptcy case with no money?

• Determine your eligibility: Before starting the bankruptcy process, a lawyer will help you determine whether you are eligible for the Chapter 7 bankruptcy process. To become eligible, you need to pass a means test. If your income is below the median income in your state, you are eligible.
• Gather your financial documents: You need to provide detailed financial information to the court for filing a bankruptcy. An attorney can help you gather relevant paperwork such as credit card statements, bank statements, and tax returns.
• Attend credit counseling: Credit counseling is an organization that helps people manage their finances and loans. Before you file for bankruptcy, your lawyer may recommend trying credit counseling first. 

What are the benefits of filing Chapter 7 bankruptcy?

Chapter 7 is very appealing to filers. The procedure takes very little time to complete, and you do not need to pay anything to the creditors. Liquidating or selling off the personal assets of the filer helps them clear their loans, such as their medical and credit card bills. Once you file, the court legally protects you from the creditors. 

The best part is that you do not need to pay any fees to the creditors later through any repayment plan. The court appoints a bankrupt trustee who sells your nonexempt property to clear the debt you owe to people. However, do not worry; you are not going to lose everything.

Properties eligible to be sold include:

• Collections of valuable items
• A second vehicle
• Family heirlooms
• Bank accounts, stocks, bonds, and other financial investments
• A (second) family vacation home

Properties that you may keep include:

• A car or truck
• Household furnishings
• Jewelry (up to a specific value)
• Clothing
• Pensions and retirement accounts

Make sure to speak to an attorney for more details.