Filing bankruptcy is itself a stressful situation. The situation worsens when you’re not aware where to start from. Since it is a legal process, you need to file it appropriately and for that you need to prepare certain documents. You might be thinking that it’s really a difficult process. Don't worry. Here’s a checklist which you can follow in order to make your bankruptcy filing a little easier. This checklist will help you regardless of whether you’re filing a Chapter 7 or a Chapter 13 bankruptcy.
Bankruptcy Basics
First of all, you need to have a clear understanding of the bankruptcy process. Therefore, you need to know about bankruptcy basics. Through this, you’ll get an idea which chapter is suitable for you. You also need to know about the ‘Means Test’ in order to know whether you qualify for Chapter 7 or Chapter 13 bankruptcy.
Read also: Frequently Asked Questions about Bankruptcy
Filling out of certain forms
After you gather knowledge about what bankruptcy actually is, you need to complete the following forms:
- Statements regarding your SSN
- Your creditor mailing list
- Your bankruptcy petition
- Individual debtor’s statement of intention
- Disclosure statement of the attorney
- Financial review of debtor's farming/fishing business
- Financial review of debtor's non-farming/non-fishing business
- Declaration of the individual debtor’s schedules
- Summary of your liabilities and assets
- Statement of financial affairs for individuals filing for bankruptcy
- Statement of your present monthly income
- Certificate of credit counseling
Documents for filing bankruptcy
You need to provide certain documents to your attorney in order to file for bankruptcy. These documents are listed below:
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Legal records (if any)
- Files from previous attorneys
- Files from previous litigations and judgments against you
- Divorce decree or any other court order for which you need to pay child support
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Financial documents
- Copies of recent pay stubs
- Recent bills of each of your credit accounts
- Your bank statement of past previous months
- Documents regarding your checking, savings and investment accounts
- Invoices/bills of purchases you made in the last year
- Payment coupons for vehicles and real estate (lease or purchase) and student loans
- Any other relevant receipts
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Additional documents
- Tax returns for the last 3 years along with most recent copy of federal income tax return
- Relevant correspondence with creditors
- Canceled checks (if any)
- Lease/mortgage related documents
- Vehicle titles
- Insurance policy related documents
- Any promissory notes you’ve signed
- Any lawsuits against you
- Documents related to debts you owe to others
- Proof that anyone owes you money
- A picture identity issued by a governmental unit
Do you have any questions regarding bankruptcy? You can ask it here…
Don’t miss out: Filing for bankruptcy: When and how to make use of this legal weapon
