What Will I Need to File for Bankruptcy?
Filing for bankruptcy is a big undertaking, which requires you to fully disclose the details of your finances to the court. Whether you file for Chapter 7 or Chapter 13 bankruptcy, you’ll need to file a good deal of forms with the court. This will help your attorney and bankruptcy trustee get a better idea of your assets, debts, income and more. It’s important that you be honest and completely transparent—even small mistakes or omissions can jeopardize your proceeding.
Here’s how to file for bankruptcy in Park Hills, MO and the documents you’ll need:
- Basic personal information: This is one of the easiest items—you’ll need your name, address, the last four digits of your Social Security number, any other names you’ve used in the last eight years, the names and ages of any children you have, your employer’s name and address and your spouse’s personal information.
- Income documentation: If you are currently employed, you’ll need to submit your pay stubs. These will be filed 60 days before you file for bankruptcy in court.
- Tax returns: You will also need to file your most recent tax return with the bankruptcy court, along with your income verification. This helps the court determine all the different sources of your income.
- Expenses: Totaling up your monthly expenses for rent or mortgages, food, utilities, transportation, car payments, insurance and other household expenses will help the court get a better picture of your true financial state.
- Real estate: If you own any real property, you’ll need to provide ownership information as well as any mortgages or liens against the property. Be sure to add their upkeep to your monthly expenses.
- Vehicle titles and records: Any vehicles you own should be listed, along with their titles and other ownership records. Add their maintenance and gas costs to your expense report.
- Bank statements: You’ll need to provide bank statements to show exactly how much money is flowing in and out of your account. This also helps the court discover whether you’ve been hiding assets or giving them to others “for safekeeping.”
- Alimony and child support verification: If you’re paying spousal or child support, include the court order and any receipts or cashed checks.
- Credit and debt records: If you have a credit card (or multiple credit cards), you’ll need to provide those statements, as well as a statement of your debts—whether or not you intend to pay those back.
- Proof of credit counseling: Finally, when you file for bankruptcy, you’re required to undergo credit counseling so you can make better financial choices in the future. Be sure to save your receipts or attendance verification.
Most importantly, you should consult with an attorney before filing for bankruptcy in Park Hills, MO. An attorney will be able to verify whether your bankruptcy documents are filled out correctly, whether you have the appropriate documentation and more. To consult with a bankruptcy attorney near you, reach out to the team at Maynard & Joyce, LLC today. We look forward to discussing your case.