Rearrange Pages In Legal Vermont Bankruptcy Forms For Free

Legally speaking, a person can file for bankruptcies as many times as they want. However, the process becomes more restrictive. With a second bankruptcy, you will not qualify for an automatic bankruptcy discharge in nine months.

There is no minimum debt to file bankruptcy, so the amount does not matter. Examples of unsecured debts include credit card debt, cash advance (payday) loans, and medical bills. Secured debts: If you are behind on a house or car payment, this may be a very good time to file for bankruptcy.

Be prepared to pay a fee to file for bankruptcy. To file for bankruptcy, you need to pay the court filing fee. The fee to file a Chapter 7 bankruptcy is $335. If your income is very low (below 150% of the federal poverty guidelines) and you do not own any property, you can ask the court to waive the filing fee.

While it may feel odd to pay fees to tell the courts you don't have enough money, you typically have to pay court fees to file for bankruptcy. The filing fee for a Chapter 7 bankruptcy is $338, while the filing fee for a Chapter 13 bankruptcy is $313.

It will cost you $338 to file for Chapter 7 bankruptcy in Vermont and $313 to file under Chapter 13. The fees are the same whether you represent yourself or use an attorney. If you can't afford the filing fee, you can ask to pay in installments over 120 days.

If you would like to file a Chapter 7 bankruptcy you must pass the Vermont means test. The test only applies to higher income filers which means that if your income is below the Vermont median for your household size you are exempt from the test and may file a Chapter 7.