Making the decision to file for bankruptcy is not an easy conclusion to come to. Before jumping in, it is best to do research about the process to know what is required. An experienced bankruptcy attorney can help an individual prepare the forms that must be filed in the event that they choose to file for Chapter 7 bankruptcy. Bankruptcy, like many other legal matters, is a very document-heavy process. At the first consultation with a bankruptcy attorney, it is important to bring a few key documents. Some of these can include the following:
Copies of every bill and letter from collection agencies
Two pay stubs, as well as two others from a spouse regardless of whether they are also filing bankruptcy
Appraisals of property such as a home, car, jewelry, etc.
Life insurance policies
Income tax returns that were filed for the last two years
The title for any motor vehicles, boats, or mobile homes that the individual owns
Copies of any lawsuits filed against the debtor by a creditor or debt collector
Once it is time to file a bankruptcy petition, the court will require that the individual also files a list of creditors, assets and debts, current income and expenses, pay stubs, an itemized statement of all monthly net income, and several other forms.
If you have questions about bankruptcy, contact our firm today.
Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.