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Filing for bankruptcy can take about six months and cost thousands, which may not be feasible for those needing immediate relief from debt. In this video, the creator outlines the bankruptcy filing process and explains how to file online without a lawyer to save time and money. The video highlights that bankruptcy filings in the U.S. surged to over 1.5 million after the 2010 recession, with expectations for another increase this year. This could lead to a congested system, higher attorney fees, and prolonged timelines. Costs can reach up to $4,000, and a simple Chapter 7 bankruptcy averages around $1,500, typically taking four to six months in regular circumstances.