I hate this question, because there’s no good answer. Going bankrupt means that your assets are completely overwhelmed by your liabilities (you have no money!).
First, what not to do: Don’t take out a payday loan or a cash advance to pay your your bankruptcy. That is simply wrong and opens you up to possible litigation in the bankruptcy court.
Now what you can do:
- Bank of Mom and Dad: I know, by the time you’re considering bankruptcy, you’ve tapped that well so many times that it’s hard to ask for anymore help. However, this time, asking them to pay for it will actually stop the creditors instead of just delaying them for a bit.
- Tax Refund Time: Bankruptcies peak in March – June not because of the new hope and energy of Spring, but because this is the only time of year my clients have extra money to pay for a bk (because of the tax refund).
- Sell off an extra asset: You have probably sold off anything of value trying to satisfy creditors, but this may finally be the time to sell that project Mustang to pay for a bk.
- Trade/Barter: Bankruptcy attorneys are sometimes a little flexible. I have taken a car, computers, even guns in trade for bankruptcy. It’s not common, but it happens.
I am sure that I have offered nothing that you haven’t already considered yourself, but I can assure you that using an attorney for your bankruptcy is worth it.