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Upsolve Offers Free Bankruptcy Assistance for Low-Income Individuals

  • Upsolve is a nonprofit organization dedicated to helping low-income individuals navigate the bankruptcy process without the high costs
  • Upsolve is a nonprofit organization that provides free tools to help low-income individuals file for Chapter 7 bankruptcy, often described as the "TurboTax for bankruptcy."
  • Upsolve's platform helps users eliminate unsecured debts like credit card balances and medical bills while allowing most users to keep their essential assets through exemptions.

Upsolve is a nonprofit organization dedicated to helping low-income individuals navigate the bankruptcy process without the high costs typically associated with legal assistance.

Known as the "TurboTax for bankruptcy", Upsolve provides free tools and education to those struggling with overwhelming debt.

What is Upsolve?

Upsolve, established in 2016 by Jonathan Petts and Rohan Pavuluri is backed by reputable institutions such as Harvard University and runs an online platform that walks users through the process of filing for Chapter 7 bankruptcy.

It simplifies the legal paperwork and requirements so that it is available to those who can’t afford a lawyer.

This has made it a reliable brand, as indicated by its coverage in Forbes and other leading news outlets.

How Does Upsolve Help?

Under Upsolve’s platform, users can provide their financial information such as income, expenses, assets/debts, etc.

The forms are then reviewed by a trustee who sets up a meeting with creditors. The law also requires users to undertake two educational courses on credit counseling as well as financial management.

Who Can Use Upsolve?

To qualify for Chapter 7 bankruptcy through means test you must be earning below your state’s median income. This test calculates your average monthly income over the last six months.

Nonetheless, should the means test fail, one may consider Chapter 13 bankruptcy which does not exist currently on Upsolve’s platform.

When Should You Consider Upsolve?

If you have more than $10,000 in dischargeable debt and a poor credit score and you struggle with monthly financial obligations then you may find useful information on how to get help from Upsolve.

Particularly helpful for consumers facing wage garnishment or lawsuits against them by creditors. This includes an automatic stay on collections once you file for bankruptcy.

What Debts Can Upsolve Help Discharge?

Some of the unsecured debts that may be discharged due to Chapter 7 bankruptcy include credit card balances; medical bills; personal loans and some federal student loans among others.

However, things like child support; recent taxes; alimony, or government fines cannot be done away with by this process.

Alternatives and Post-Bankruptcy Life

Before deciding on bankruptcy, Upsolve encourages users to consider alternatives like debt settlement, management plans, or consolidation.

While Chapter 7 bankruptcy can provide relief and the opportunity to rebuild credit, it stays on your record for ten years.

Tools and resources are provided by Upsolve that help users recover from bankruptcy.

For non-partial advice, Upsolve’s free platform is a robust solution for eligible filers of Chapter 7 bankruptcy as it offers them a fresh financial start with no legal fees burdened upon them.

Edited By Annette George.