Preparing to File for Bankruptcy

In order to complete the official bankruptcy forms that make up the petition, statement of financial affairs and schedules; Chapter 13 plan if required; other attachments; and to satisfy the Bankruptcy trustee’s requirements, you are going to have to compile the following information:

  • Financial PlanningA list of all your creditors and evidence of the amount and nature of their claims
  • Proof of the source, amount, and frequency of your income for the past six months (six months’ paystubs or six month income and expense statement if self-employed)
  • A detailed list and evidence of value of all of your assets
  • A detailed list and evidence of value of any property sold, transferred or given away within the last year (within four years if real property)
  • A detailed list of your monthly living expenses, including food, clothing, shelter, utilities, taxes, transportation and medicine
  • Tax returns or transcripts for the two most recent tax years
    Proof of insurance on your home, automobiles, etc.

If you are married, you must provide this information for your spouse regardless of whether you are filing a joint petition, separate individual petitions, or even if only one of you is filing. (Where only one spouse files, the income and expenses of the non-filing spouse are required so that the court, the trustee and creditors can evaluate the household’s financial position.)

Also, you must get a certificate of completion of credit counseling from an approved credit counseling agency within 180 days of filing.

As you can see, the filing process is complex and exhaustive, and that’s where I come in. I have many years’ experience successfully guiding people like you through the Bankruptcy maze. I have sources such as a credit counseling service, property profile services, credit bureaus, Kelly or NADA Blue Book, IRS, income calculator and more. For more information on William Howell, Chapter 13 or Chapter 7, contact me today. I provide a free, no obligation consultation by phone or at any of my office locations.

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