what documents do i need to give to bankruptcy lawyer

by Lorine Hayes V 6 min read

  • Financial Records. Your financial records are some of the first documents you should collect. These records will help determine which type of bankruptcy is best suited for you.
  • Legal Records. Any legal history or pending litigation involving you is information you'll want to disclose to your attorney.
  • Additional Documents. The following list is a combination of assets you own and what you need to verify your income. ...
  • Documents Needed To File Chapter 7. There are a number of documents you need before filing for a Chapter 7 bankruptcy. Planning To File Bankruptcy?

Summary of Your Assets and Liabilities and Certain Statistical Information. Declaration About an Individual Debtor's Schedules. Statement of Financial Affairs for Individuals Filing for Bankruptcy. Chapter 7 Statement of Your Current Monthly Income and Means Test Calculation.

Full Answer

What documents do I need to start a bankruptcy?

Your Miami bankruptcy attorney will help you by preparing the following materials:

  • Voluntary bankruptcy petition
  • Photo identification
  • Social Security card
  • Business information name, if any
  • Certificate of Credit Counseling (a debtor must take this course before filing);
  • Prepared creditor matrix
  • A list of all your debts and assets.

What documents do you need in order to file bankruptcy?

Necessary documents include:

  • Proof of registration
  • Proof of insurance
  • Car loan statement showing how much you owe and your monthly payment
  • The value of the car. (You can get an estimate online.)

What forms are needed to file bankruptcy?

forms may be required: Disclosure of Compensation Pursuant to Federal Bankruptcy Rule 2016(b) (Form 2030) Bankruptcy Petition Preparer’s Notice, Declaration, and Signature (Official Form 119) Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer (Official Form B 280)

What information do I need to file for bankruptcy?

  • List of Debts – Make a list of all of your outstanding debts. ...
  • Proof of Income – Your income is directly relevant to your bankruptcy filing. ...
  • State and Federal Tax Returns – Collect copies of your state and federal tax returns for the last three years. ...

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What do you need when you file bankruptcies?

Income Documentation You'll also need proof of other income sources such as Social Security funds, disability, or rental properties. If you're self-employed and filing for bankruptcy, you'll probably need to provide a year-to-date profit and loss statement, as well as for the two full years before filing.

Do I need credit card statements for bankruptcy?

Even though it is not a formal requirement under the Bankruptcy Code, most Chapter 7 bankruptcy trustees ask filers to provide them with a copy of their bank account statement before the 341 meeting. Many ask for the statement that covers the filing date while some request several months of bank statements.

How do I prepare myself for bankruptcy?

The first step to prepare for bankruptcy is to gather proof of your income. Copies of your tax returns and copies of proof of income for the past six months are required when you file a Chapter 7 case. To prepare for bankruptcy under Chapter 7, you must complete the Chapter 7 Means Test.

What does Trustee look for in bank statements?

The Trustee Will Look for Suspicious Banking Activity The trustee will also use bank statements to look for evidence of your income and expenses and question you about any significant transactions.

Does bankruptcy look at bank account?

Your Chapter 7 bankruptcy trustee will likely check your bank accounts at least once during the process of overseeing your filing. They have a right to perform a full audit of your accounts or check them any time it is necessary. However, it is rare for them to keep close tabs on every account.

How many bank statements do you need for bankruptcies?

Chapter 7 Bankruptcy Documents Needed After Filing 60 days of paycheck stubs or other proof of income received from an employer. most recently filed tax return (or a tax transcript) 60 days of bank statements.

Should I close my bank account before filing bankruptcy?

You'll want to open checking and savings accounts at a bank that doesn't service any of your debt and use the new account for banking purposes before filing bankruptcy. Again, you don't need to close other accounts—leave them open and report all accounts when filling out your bankruptcy paperwork.

Can you withdraw money before filing bankruptcies?

Unfortunately, it doesn't matter if the money is set aside for a specific bill or purpose; if it's not exempt, the trustee can take it. You are allowed to spend the money you have before filing your case. Although that may sound a bit strange, the bankruptcy law and exemptions exist to protect you.

Do you get out of all debts if you declare bankruptcy?

While the goal of both Chapter 7 and Chapter 13 bankruptcy is to put your debts behind you so that you can move on with your life, not all debts are eligible for discharge.

How do I hide my bank account from creditors?

To open a bank account that no creditor can touch, a person can (1) use an exempt bank account, (2) establish a bank account in a state that prohibits garnishments, (3) open an offshore bank account, or (4) maintain a wage or government benefits account.

What Documents Do You Need to File For Bankruptcy?

The documents you’ll need are the same whether you are filing a Chapter 7 bankruptcy or Chapter 13 matter, with slight variations. However, for exa...

Retirement and Bank Accounts

Recent bank and retirement account statements must be provided to the bankruptcy trustee for all accounts.IdentificationWhen you go to your hearing...

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....

Credit Counseling Requirement

In addition to the documents above, the law requires that you complete a credit counseling class and obtain a certificate before you can file for b...

What is the most important thing to do when filing for bankruptcy?

The last point is especially important. For the most effective bankruptcy filing, it is crucial that you are completely transparent with your attorney. Make sure you take note of any questions, legal inquiries, or laws that you may wish to address with your attorney.

What to do if you can't find a bankruptcy document?

If you can’t find a document that you think you need for your bankruptcy or if you forgot to bring a document to a meeting with your lawyer, you should tell your attorney as soon as possible, so that they can take note and take the appropriate action to help you.

Why is bankruptcy considered the most document intensive?

This is because whether a bankruptcy is recognized by the courts is based on the value of the debtors assets compared to the amount of debt owed to other creditors.

Why is it important to have a bankruptcy attorney?

Because filing for bankruptcy is a complex legal claim, finding the right bank ruptcy attorney is important. A bankruptcy attorney will help you decide whether or not to file for bankruptcy, and what type of bankruptcy you should file. Additionally, if you decide to file, an attorney can help ensure that your property is protected, ...

How long does it take to file for bankruptcy?

In total, most bankruptcies take around 4 to 6 months.

Why do people declare bankruptcy?

Declaring bankruptcy gives individuals or businesses that are unable to pay their debts a better way to solve their financial problems. It can also help them start rebuilding their credit and lives in a more positive and financially stable way.

What happens when you file for bankruptcy?

That way, when you complete your bankruptcy, you will be on the right path to financial recovery.

What information do you need to file for 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.

How to get a credit report for bankruptcy?

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.

What does a bankruptcy trustee do when a debtor loses financial paperwork?

When a bankruptcy debtor (filer) loses financial paperwork in a natural disaster, the bankruptcy trustee must: avoid taking action against a debtor who can't produce documents. grant reasonable requests to ease filing requirements, and. take into account a decrease in income or increase in expenses.

How long do you have to file a chapter 7 tax return?

You'll usually need to provide copies of your tax returns or tax transcripts for the last two years in a Chapter 7 case, and four years in a Chapter 13 matter. If you have unfiled returns because you weren't required to file—for instance, your only income source was nontaxable disability benefits —you'll need to explain why.

Do you have to give consent to a lawyer to text you?

You are not required to provide consent as a condition of service. Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary.

Do trustees require proof of bankruptcy?

Not only do some trustees require more proof than others, but the particular evidence you'll have to produce will also be determined by the facts of your case. Below are the most commonly required documents in bankruptcy.

Can you file for bankruptcy after a natural disaster?

But not only are jobs and property lost, but the paperwork required to file for bankruptcy can end up missing, too. Fortunately, provisions are made for such emergencies. When a bankruptcy debtor (filer) loses financial paperwork in a natural disaster, the bankruptcy trustee must:

What number do you file a debtor form with?

Individual debtors will file forms that begin with the number 100, while non-individuals will file forms beginning with the number 200. Thankfully, though, most of these documents can wait to be produced during the retainer and filing process, and need not be brought to the initial consultation. While debtors certainly are able to file ...

What was the burden of bankruptcy in 2005?

One of the biggest burdens under the “new” bankruptcy law that was forced upon debtors and their attorneys in 2005 was the requirement to produce volumes and volumes of documents. In addition to the formal schedules and statement of affairs, you’ll need to get together a lot of paperwork to file bankruptcy. One nationally known attorney ...

Am I ready for bankruptcy?

If your bills have been piling up and you are being harassed by collection agencies, it may be time to consider filing bankruptcy. Filing for bankruptcy will discharge your dischargeable debt including credit card debt and will allow you to keep your home and many of your other possessions.

What documents should I bring to my initial consultation with my bankruptcy attorney?

You will be required to provide the following documents to your initial consultation to file for bankruptcy successfully in New York:

Contact our experienced New York firm

Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options.

When do you send 521 documents to creditors?

Seven days before the 341 meeting of creditors —the meeting all bankruptcy filers must attend—you’ll send the trustee financial documents commonly referred to as “521 documents” (bankruptcy code section 521 sets forth the requirement).

What to do if you don't have an attorney?

If you don’t have an attorney, and you aren’t sure whether the trustee has the right to request a particular item—or if you’re at risk of losing property that you thought you could keep—you should consult with an attorney. Find out more about exempt (protected) property in bankruptcy.

What happens if you file Chapter 13 bankruptcy?

Chapter 13 bankruptcy. In this chapter, the trustee doesn’t sell your property. You’ll pay for nonexempt property in your repayment plan. The trustee will distribute the payments to your creditors. Find out how much Chapter 13 costs. In both cases, the trustee will evaluate your income and property to see whether they can find additional funds ...

How long does it take to get a copy of your tax return?

two years of filed Federal tax returns. If you don’t have a copy of your return, you can order a tax transcript from the IRS. Not only are tax transcripts free, but they're also immediately available online, or in five to ten days if ordered by phone, fax, or mail.

Can a trustee request proof of a petition?

After reviewing your petition and supporting documents, the trustee can request additional proof. In this article, you’ll learn about the paperwork every filer will provide to the trustee, and about other documents the trustee might ask you to produce for review.

How do I know if I am ready to file for bankruptcy?

If you find yourself in a situation where bills are piling up that you are unable to pay, your wages are being garnished, and you are being essentially harassed by collection agencies, there is a very good chance that you are ready to file for bankruptcy.

What documents will I need to file for bankruptcy?

Bankruptcy is a document-heavy process, and as such, you will most likely have to provide the following documents to successfully file for bankruptcy in New York State:

Contact our experienced New York firm

Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options.

When are Chapter 7 bankruptcy papers due?

They'll be due 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.

How long is a Chapter 7 bankruptcy?

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.

What happens if a trustee asks for additional documents at a 341 meeting?

If the trustee asks for additional documents at the 341 meeting of creditors, the trustee will likely continue the meeting to allow enough time to review them. Many trustees will cancel the new date after receiving acceptable documentation.

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