Published on
2 min read
Closing the Gap to a Faster, Free Bankruptcy Filing
Up to $2000
Increased earnings of people who successfully file for Chapter 7, compared to dismissed filers
Source: National Bureau of Economic ResearchDeclaring bankruptcy is a much-needed lifeline helping Americans in financial distress to get back up on their feet. But for many, filing is a luxury; navigating the bankruptcy process is often prohibitively complex and expensive. In particular, the more than $2,000 price tag for an attorney prevents many people from accessing the support they need to clear their debts.
When Americans successfully file for bankruptcy, they can finally begin to keep their wages and build toward savings that open the door to a financially secure future – those who successfully wipe out their debts are associated with higher credit scores and higher incomes than those who don’t. Having the resources and guidance to declare would allow them to finally start fresh. Upsolve is a NavTech tool, breaking into an emerging sector of tech-enabled solutions that supports greater economic mobility to those who need it most.
Simplifying a Complex System
Upsolve operates a free, do-it-yourself Chapter 7 bankruptcy filing tool, enabling families to tackle a complex filing process with the support of accessible resources. The organization's Bankruptcy App helps users determine if they qualify and offers a guided online process to help users navigate through the entire filing and discharge process.
To date, Upsolve has helped 27,000 low-income families discharge $1.2 billion in debt. In 2025 alone, Upsolve completed 5,800 bankruptcy filings with a near-99% discharge rate. The results are transformative for families who complete the process: each filing erases an average of $52,000 in unsecured debt, in addition to supporting improved credit and greater housing stability.
Guiding Americans Toward Financial Security
NextLadder is supporting Upsolve’s efforts to enhance personalized AI navigation throughout the bankruptcy filing process and increase the capacity of Upsolve’s paralegals. With nearly 3 million Americans visiting its site each year, Upsolve is one of the most-visited nonprofit financial education sites in the U.S.. NextLadder’s investment will support Upsolve’s goal to expand access to their tools and put debt relief within reach for tens of thousands more families.
“A few months ago, a mother found Upsolve while her baby was in the NICU after going into heart failure. The medical bills had pushed her into unmanageable debt. Between hospital visits and caring for her children, she completed her bankruptcy forms through Upsolve. Three months later, her debts were erased.”
Forbes: "Upsolve’s AI Paralegal Helps Erase $1 Billion In Debt"