In order to file a Chapter 7 bankruptcy case, your Dayton bankruptcy attorney will need to file a petition, a schedule of assets and liabilities, a schedule of current income and expenditures, a schedule of exempt (or protected) property, a statement of financial affairs, and a schedule of executor contracts and unexpired leases with the bankruptcy court serving the area where the individual lives (or where the business debtor is organized or has its principal place of business or principal assets).
In order to complete the Official Bankruptcy Forms mentioned above, the debtor must provide the following information:
1. A list of all creditors and the amount and nature of their claims;
2. The source, amount, and frequency of the debtor’s income;
3. A list of all of the debtor’s property and the property’s value; and
4. A detailed list of the debtor’s monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc.
Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. In a situation 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.
Debtors must complete a credit counseling class prior to filing bankruptcy and file a certificate of completion. Debtors must also provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax year and proof of all income for the six months before the filing of the bankruptcy petition.
To learn more about bankruptcy, or to discuss your personal financial situation with an experienced Dayton bankruptcy attorney , please contact your Dayton bankruptcy attorney today at Helen Wallace, Attorney at Law by clicking on the preceding link, by e-mail to email@example.com or by telephone to (937) 654-6800.
The contents contained in Helen Wallace, Attorney at Law’s Blog and Web Page(s) are for educational and informational purposes only, and shall not be construed as legal or tax advice. The reading of Helen Wallace, Attorney at Law’s Blog or Webpage does not create an attorney/client relationship with Helen Wallace, Attorney at Law. Please consult an Attorney in your jurisdiction (where you live or where the legal action arose) if you are seeking legal advice or representation. Please further be advised that Helen Wallace, Attorney at Law is a debt relief agency and helps people file for bankruptcy relief under the United States Bankruptcy Code.