Listed below is a more expansive list of documents that you should bring during the first meetings with a bankruptcy lawyer: All financial documents, including bank account statements, receipts for major purchases, wage statements, and tax returns;
Feb 28, 2018 · What Documents You’ll Need If You File Chapter 7 or Chapter 13. If you and your attorney decide to go forward with your case, you likely will be provided with a detailed checklist of all the other myriad documents needed, such as loan payoffs, copies of titles, copies of tax returns, six months of pay advices, deeds of trust, proof of insurance, and on and on.
Mar 12, 2013 · In most cases it should be documentation for the last 2 years. If you intend to file bankruptcy make sure taxes are filed and current. List of debts. This includes credit cards , medical bills , mortgage, vehicle, personal loans, and other outstanding loans or monies owed.
These are the documents you'll need for the 341 meeting. You'll send them to the Chapter 7 bankruptcy trustee appointed to oversee your case at least seven days before the date set for the 341 meeting of creditors—the one hearing that all filers must attend. If you can, submit the forms earlier. Here's why. You'll finish sooner.
What to Bring to the 341 Hearingan approved photo I.D.your Social Security card or other proof of your Social Security number, and.any documents that reflect a financial change since filing your petition.
A current statement from each secured creditor stating the amount owed. Originals of bank books and check registers. Bank account statements, brokerage account statement and credit card statements. Copies of leases, mortgages, deeds and land contract for property owned within the last six years.
two yearsYour bankruptcy trustee can ask for up to two years of bank statements. The trustee will look at your statements to verify your monthly payments to make sure they match the expenses you put on your bankruptcy forms.Dec 6, 2021
But some of the most common documents you may have to bring to your meeting of creditors include your:tax returns.pay stubs.bank statements.retirement account statements.profit and loss statements (if you are self-employed)mortgage documents including deeds of trust and loan statements.car registrations.More items...
A preferred creditor, also known as a "preferential creditor", is an individual or organization that has priority in being paid the money it is owed if the debtor declares bankruptcy.
Does Chapter 13 Trustee Check Your Bank Account? Yes, it's highly likely that your appointed trustee will check both your personal bank accounts and any business-related bank accounts which you may have under your name.
To get the information they need, your creditors can apply for a court order to make you go back to court. You can be forced to bring in documents and answer questions under oath about your financial situation. This is called an order to obtain information.
Questions the Trustee Can (and Will) AskDid you read and review your bankruptcy petition, including all of the schedules, before signing it?Was the information contained in the petition accurate when you signed it?Has anything changed since you signed the petition?Have you filed for bankruptcy before?More items...•Dec 31, 2020
The most important, mandatory documents to bring to your initial bankruptcy consultation are a list of your outstanding debts and a list of your assets, focusing on major assets, such as houses, cars, boats, trailers, timeshares and the like.
If you are thinking of filing for bankruptcy, you are not alone. Lawyers can help you decided whether or not you even need to file a bankruptcy, but if you do, they’ll let you know which chapter would be most appropriate.
A bankruptcy consultation is good opportunity to learn more about the filing process while learning whether it is the best option for you. This is the perfect time to ask questions, review concerns, and get clarity on how bankruptcy works. During the consultation, you will discuss your circumstances in further detail and review your options on how ...
Household expenses. This includes a list of necessary living expenses such as food, clothes, utilities, rent, medical and other payments you make on a monthly basis. Debt payments, charitable contributions and insurance premiums should also be included.
The average Chapter 7 bankruptcy petition is approximately 50 pages in length, so it shouldn't come as a surprise that you'll need a lot of information to complete the required forms. Being organized will help you complete the bankruptcy forms efficiently.
The court will want verification that the information provided in your petition is accurate and that you attended the required post-filing educational course. Here's a list of what you'll need:
You also must provide the trustee with any documentation reasonably necessary to investigate your filing. For instance, your trustee might want the following items:
In order to help you best, your bankruptcy lawyer will need to know about your life and finances. They will want to know what has brought you to consider bankruptcy , such as credit card debt, difficulty paying a mortgage, medical bills, and so on. They might also ask: If you’re married. If you have children. How much money you and your spouse make.
In order to help you best, your bankruptcy lawyer will need to know about your life and finances. They will want to know what has brought you to consider bankruptcy, such as credit card debt, difficulty paying a mortgage, medical bills, and so on. They might also ask: 1 If you’re married 2 If you have children 3 How much money you and your spouse make 4 How much money you’ve made over the last six months 5 If you own a business 6 If you have any assets, and if so, what they are worth 7 If you’ve recently sold or transferred any property (see what not to do) 8 If you owe back taxes 9 If you are behind on child support or alimony payments 10 If any creditors have judgments against you 11 What you hope to achieve through bankruptcy
What Information Do You Need to Complete the Bankruptcy Forms? Most of the information you'll need to fill out your bankruptcy paperwork will be in those documents, including asset value and income information. For example, you'll use the income documentation to calculate your average monthly income.
Start by finding loan statements or bills so that you can list each of your creditors in the bankruptcy. Alternatively, you can obtain a credit report that shows all your debts; however, be aware that you're required to list the creditor's billing address, and that address rarely shows up on your credit report.
If you have other circumstances affecting your bankruptcy, such as being required to pay alimony, child support, or another unusual expense, you'll need to show proof of these costs. For instance, it's common to provide a copy of a child support order. If you've divorced recently, you might need to produce an order or marital settlement agreement documenting a property distribution.
Oddly enough, of the three things, assets, debts , and income, your bankruptcy attorney will likely spend the least amount of time discussing your debts . At this stage, the character or type of each debt is more important than the balances. The bankruptcy code sorts debts into three broad categories: secured debts , priority unsecured debts , and general unsecured debts.
Your bankruptcy attorney is going to do most of the work; that’s why you hire them. But by taking steps to prepare information about your assets, debts, and income before your first meeting , you’ll likely have a productive first meeting with your attorney and lay the foundation for excellent representation.
Speaking of general unsecured creditors, the amounts generally do not matter because, with certain exceptions, they will all be eliminated under Chapter 7 bankruptcy. The amount you may be required to pay back in a Chapter 13 is more often determined by your income rather than the amount of debt you have.
Secured debts are those that have a piece of property attached to them as collateral . If you default on those debts, the creditor not only has the right to enforce the debt against you, personally, but may also have the right to enforce the debt against a piece of property, like a house or a car.
Priority unsecured debts are those that do not have a piece of property attached to them (like a secured debt), but which will not be discharged or eliminated in a bankruptcy. These include certain tax debts and child support arrears.
The bankruptcy code says if you make too much money, you might have disposable income available at the end of each month to pay something to your general unsecured creditors. That is one reason you may be ineligible for relief under Chapter 7 and may only be able to seek relief under Chapter 13.
There will be a significant number of documents required for a bankruptcy lawyer to review prior to assisting an individual with a consumer bankruptcy case. It is important to bring as many documents as possible to the consultation so the lawyer can evaluate the case and provide accurate advice on how to proceed.
A strong bankruptcy case is made by an organized demonstration of why an individual cannot repay their debts. It may also depend on which type of bankruptcy an individual is filing. There are certain assets that may determine which bankruptcy to file.
Anyone facing consumer bankruptcy should seek the help of an experienced bankruptcy lawyer. A lawyer can review and analyze your situation to determine if and which type of bankruptcy is best for your situation.