Bankruptcy Documentation

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Below we have provided information regarding what documents you will need to prepare for filing a bankruptcy. If you would like more information please do not hesitate to call us at 508.655.5980 or e-mail us.

What documents will I need to file Bankruptcy?

You should discuss with your counsel what documents are necessary for your particular case. At the very least the following documents will be necessary:

1. IDENTIFICATION: You must provide proof that you are who you say you are, i.e. an official photo ID (such as a driver's license) and your Social Security card.

2. PROOF OF INCOME: You must provide proof of your average monthly gross income from all sources for the last six (6) months starting with the first month before your scheduled office visit.

3. DEDUCTIONS FROM INCOME: You must provide proof of any deductions from your income to include: federal and state taxes, retirement plan contributions, retirement plan loan repayments, insurance, court-ordered payments, garnishments, and all other deductions whether voluntary or involuntary. If you have your own business, you must provide a complete listing of all of your monthly business expenses including a year-to-date or recent monthly Profit & Loss Statement for your business, if possible.

4. BANKING RECORDS: You must provide statements from your bank, credit union, or other financial institution for the past six (6) months.

5. INCOME TAX RETURNS: You must provide proof of your annual gross Income for the last four (4) years and proof that you filed tax returns for three (3) years.

6. HOUSEHOLD EXPENSES: You must provide a listing of your monthly household expenses including those for mortgage or rent, utility services (electricity, gas, fuel oil, propane, water and sewage), telephone service, cable or satellite television service, home maintenance, food, clothing, laundry and dry cleaning, medical and dental expenses, transportation costs, recreation expenses, clubs, entertainment, charitable contributions, insurance (homeowners or renters insurance, life insurance, health insurance and automobile insurance), taxes on property, alimony, maintenance, and child support.

7. CREDIT REPORT: Federal law entitles you to receive a free credit report annually from each of the three credit reporting agencies. You should request your free credit report online by visiting http://www.annualcreditreport.com. You may also request your free credit report by mail or by phone. Mail your request to Annual Credit Report Service, PO Box 105281, Atlanta, GA 30348-5281 or phone (877) 322-8228 toll free.

8. ACCOUNT STATEMENTS: You must provide a listing of all of your debts including those for credit cards, medical bills, personal loans, automobile loans, furniture loans, jewelry loans, lawsuits, and any other matters. You should provide to your counsel as much documentation as you have available for the last thirty (30) days on all such debts.

9. PROPERTY DOCUMENTS: You must provide documentation of all contracts and security agreements including those for mortgages and leases, refinancing, transfers of ownership, time shares, stocks, car loans and leases, furniture rental and leases, jewelry loans and any other contract or security agreement.

10. PROOF OF INSURANCE: You must provide proof of insurance on all property secured by a lien, including, but not limited to, homeowners insurance and/or automobile insurance.

11. DOMESTIC SUPPORT OBLIGATIONS: If you are paying any child support, alimony, or separate support, you must provide all documents associated with such payments. You must provide some proof that you are current on these obligations and provide the name and address where those documents are required to be sent.

12. OTHER DOCUMENTS. You should provide any bankruptcy you filed during the last eight (8) years, a list of all of your addresses for the last three years, documentation of any felony conviction, money or property received from a trust or probate estate, Educational IRAs or tuition programs, etc. Use common sense as to other documents that might be useful and err on the side of providing it if you are not sure.

When filing for Bankruptcy, what financial information do I need to disclose?

Everything you own and every debt you owe must be completely and accurately disclosed in the documents filed to commence this case. Bankruptcy is not a "pick and choose" proceeding. You do not leave some debts in and leave some debts out. Everything must be included. You must value each item you own at the rate It would cost you to replace the item with one of the same condition, age, and usefulness. The information you give to an attorney, a staff member of the law firm, the Bankruptcy Trustee, or the Bankruptcy Court that is provided with your petition and during the case must be complete, accurate, and truthful.

What documents to I need to file with the Court?

To file a bankruptcy case, documents called a Petition, Schedules, and Statement of Financial Affairs, as well as in some cases a Statement of Intention need to be prepared correctly and filed with the bankruptcy court. You will have to pay a filing fee to the bankruptcy court as well. Once your case is filed, you will have to attend a first meeting of creditors where you will be questioned under oath by a court official called a "trustee". At this meeting you may also be questioned by your creditors. If you chose to file a Chapter 7 case, you may be asked to reaffirm a debt. You may want help deciding whether to do so.

All of the Information you provide in your Petition, Schedules and Statement of Financial Affairs and any other document filed with the Bankruptcy Court will be subject to audit by the United States Department of Justice. If you fail to provide this information your case may be dismissed. If you act dishonestly you may be subject to criminal sanctions.



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