Read the following to understand the pros and cons of bankruptcy.

You will also see if you qualify for a fee waiver.
In a Chapter 7 bankruptcy, you file court papers asking that certain unpaid debts be wiped out.  

Most debts are wiped out after a Chapter 7 bankruptcy, including credit card debt, medical bills, and civil judgments.  

Bankruptcy also stops wage garnishment and harassment by collection agencies. 

Studies show that in 96% of cases, people who file for chapter 7 get to keep all of their property. Most of the cases where property is taken by the court involve real estate or tax refunds. *

But filing for bankruptcy is not a good idea for everyone. It is a serious step and you need to understand the costs of filing. 

First, it's important to understand that the following debts cannot be canceled in a Chapter 7 bankruptcy:

- Student loans
- Loans on a car that you still own
- Unpaid child support or alimony payments
- Unpaid fines
- Most tax debts
- Debts due to fraud, theft or embezzlement
- Damages to another person caused by drunk driving or conduct done on purpose
- Debts from a property settlement in a divorce
- Some other types of debts

These debts must still be listed on the bankruptcy papers filed with the court, but they can’t be wiped out. *

Second, there are certain things a bankruptcy cannot do, such as:

- Release you from credit card debts that happened right before the bankruptcy was filed

- Get rid of debts that you get after the bankruptcy is filed

- Allow you to discharge debts the court decides you can afford to pay, if you have enough income

- Allow you to keep valuable property, such as a vacation home, an RV or expensive jewelry

Finally, it's important to know that:

- Bankruptcy stays on your credit rating for 7 to 10 years

- It can cause strain in relationships with some creditors

- You may have to return property that is not paid for

- You can only get a Chapter 7 discharge once in an eight year period

- You may be able to protect your income and property without filing bankruptcy

Upsolve's service is free. But there are two things you may need to pay for. 

(1) The $335 filing fee
(2) $24 for first online course required by law (before you file)
(3) $10 for second online course required by law (after you file)

If you earn less than 150% of the poverty line, you qualify for a fee waiver and you won't have to pay anything. 

The following questions will help you figure out whether you qualify.

Including you, how large is your household? *

Do you earn less than $17,820 a year?

Do you earn less than $24,030 a year? *

Do you earn less than $30,240 a year? *

Do you earn less than $36,450 a year? *

Do you earn less than $42,660 a year? *

Do you earn less than $48,870 a year? *

Congratulations, you qualify for a fee waiver. You won't have to pay the court anything to file.

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You don't qualify for a fee waiver. You will have to pay the $335 filing fee and about $40 for both required online bankruptcy courses.
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