A filing fee may be required when filing for bankruptcy. In some cases, individuals may not be able to afford the filing fee. To learn how to discover what makes you eligible for the Chapter 7 fee waiver and how to know if you will be granted the waiver based on your financials, continue reading. For assistance with any bankruptcy matters, do not hesitate to reach out to our experienced New York bankruptcy attorney.
How can I know if I qualify for a Chapter 7 filing fee waiver?
You will have to file for Chapter 7 bankruptcy with the proof that you are unable to pay the fee in installments within 120 days to discover if you are qualified for a fee waiver. During this process, you will be required to provide proof that your combined family income is less than 150% of the poverty line. You will also have to prove that you are an individual and not a business.
How do I apply for a Chapter 7 fee waiver?
To apply for a Chapter 7 fee waiver, you will fill out the Form 103B Application. While filling out this application, you will need to provide various forms of documentation and information including the following:
- Information regarding your combined family income
- Bank accounts
- How much cash you have on hand
- Any real estate you own and its value
- The size of your family
- Personal property
You will also have to sign statements regarding if you have already applied for bankruptcy within the last 8 years and if you have paid an attorney for assistance with the bankruptcy filing process.
How do I know if I will be granted a bankruptcy filing fee waiver?
There are three potential outcomes if you have applied for a Chapter 7 fee waiver. The first outcome is that the court may grant you the fee waiver. The second outcome is that the court may decide that you and your attorney should attend a hearing to prove that you require this waiver. The final outcome is that the court may deny the waiver and set up a payment schedule for you to pay off the filing fee.
When making a decision, the court will consider various factors regarding whether you qualify for a fee waiver. Throughout this process, it is important that you have the assistance of an experienced bankruptcy attorney. To get started today, reach out to our firm.
Contact our experienced New York firm
Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options. We will have your back every step of the way.