Can I File for Bankruptcy for Free?

The answer to this question is simple. You cannot file for bankruptcy for free, but that does not mean you cannot settle your debts for free. Just because the answer to, "Can I file for Bankruptcy for free?" is no, does not mean there is no way out. Here is how you can get out of debt for free.

First, you can do it yourself. You will need to put together a list of all your expenses. This list needs to include all your monthly bills, yearly bills, quarterly bills, weekly bills, and any other expenses. Do not leave out things like car repairs, copays, doctor visits, oil changes, and other expenses. This needs to be a very thorough list.

Next, you need to set up a budget. You need to start with the most important bills like your house, utilities, car, and insurance. Basically start with what you have to pay to survive. Then, move onto the bills that are not as important, like credit cards and such.

Once you have worked in all the bills you can you need to leave some room for savings. You have to save for an emergency so you don't end up taking out a loan or using a credit card to cover an emergency. You need to save about 10% of your income as a just in case fund.

Last, you need to work in some entertainment for yourself and your family. This can be a trip to the movies or something else that is pretty cheap. You need to reward yourself and your family for following the budget you set up for yourselves each month.

Now whatever you can afford after your budget needs to go towards your debts. Start with the smallest debt and pay it off before you move on to the next. If the debt you are working on is a few years old or you have stopped paying on it, then contact the company and see if they will accept a smaller amount to settle it.

Your other option is to go and speak with your priest or pastor. They will be able to give you some financial direction and usually there is a volunteer in the church that is willing to help you set up a budget to get out of debt.

So the answer to, "Can I file for bankruptcy for free?" is no, but that does not mean you cannot get out of debt for free. Bankruptcy is horrible for you anyway and you need a better option.