Yes, it is. But a debtor will have to consider carefully all bankruptcy options available, free services, and bankruptcy form free of cost. Moreover, there are two basic types of bankruptcy, Chapter 7 and Chapter 13.
The more common of the two is by far Chapter 7. It is a liquidation type of bankruptcy where assets of the debtor are sold to pay the creditors. Chapter 13 is a reorganization plan that lets the debtor pay creditors back over time under the protection of the bankruptcy court.
After 2005 filing for bankruptcy has become more difficult. Debtors will have to negotiate a number of hurdles before they can file for Chapter 7, whether with an attorney, or themselves (per se) or for free through free bankruptcy clinics or legal aid organizations that help people with the paperwork.
Because of the tougher bankruptcy laws, any mistake along the way and your “free bankruptcy filing” can become very costly very fast.
What can you do to get a free bankruptcy filing?
- File yourself (per se or pro se) debtor
- File using a pro bono attorney
- Use a free legal aid organization to assist you
- Apply for a waiver of the court filing fees ( about $
These two options are almost free but not quite.
- Negotiate a reduced fee (that you can afford) with an
- Pay your attorney fees through a Chapter 13 repayment
Because of the complexity of the tighter bankruptcy provisions, filing yourself is generally not recommended. However, if your financial situation does not allow you to use any of the above methods except to file yourself, filing yourself using free online forms may be the only feasible method.
The Internet and Google are your best friends in your quest to prepare and to file your bankruptcy petition yourself.