The Bankruptcy Process can be complicated, requiring so much information that leaves debtors feeling lost. Here are the typical documents needed for success.
Debtor's Identification
If you are using the services of an attorney to assist you with filing your petition, they will typically request that you provide your driver's license, state-issued ID, military ID, government ID, student ID, passport, or resident alien card prior to filing in order to best prepare your petition. Reason being, they will need your basic information when constructing your petition, such as your full name (as shown on the ID), date of birth, and address. The Trustee will require a few forms of proof of identification--including your social security card--at the time of your first hearing but some attorneys will request this at your initial intake.
The primary reason for this requirement is to help prevent bankruptcy fraud as well as protect your identity. Ensure that the name on your ID matches your petition in order to avoid unnecessary delay at your hearing. It is likely that the trustee will require you to amend your petition to reflect the name on your documents. If you fail to correct the issue or fail to provide your proof of identity, the trustee may recommend that the court dismisses your case.
Credit Counseling Certificate
All individual filers (yes, co-debtors too) are required to complete a pre-bankruptcy credit counseling course within 180 days of filing your case. Upon completion of this course you will receive a certificate that shows the credit counseling agency, the time and date it was completed, and the name of the individual who completed the course. This is required before your debts can be discharged, so do not delay.
Often times, your attorney will be able to provide you with an anticipated filing date if you are concerned with taking the course too soon. Some factors that could determine that filing date would be whether or not you have provided your attorney with all of the information and documents requested, and if you have paid your attorney's fees.
Documents Related to Property You Own or are Liable
If you own a home, rental properties, vehicles, etc., you will need documentation for these items, such as a car statement that shows the factual information for that vehicle or perhaps an auto contract, lease, title, etc. If you have a mortgage, then you will provide that statement that reflects the interest rate, current balance, remaining balance, and contact information for the mortgage holder.
Additionally, you may need to provide any insurance information you have pertaining to the property. For instance, homeowner's insurance policy declaration pages which reflects the insurance coverage, limits, and deductibles. If you have vehicle insurance then it would be your auto insurance declaration page that lists the insured vehicles, drivers, and coverages in the policy that outlines the limits and liabilities.
If you lease or rent property (including vehicles and storage units), then you will provide the contract that lists the terms and agreements between the parties (i.e. landlord and tenant).
All Sources of Income
This is a crucial part of the bankruptcy process. You must disclose any income you receive within the last six months prior to filing, whether it is tax deductible or not. So, if you receive VA disability compensation, then list it. If you receive child support, then list it. If you receive social security income, wages, public assistance or are self-employed, then you need to list it. If your over-bearing, passive-aggressive aunt gives you pity money every month for not being as rich as your cousin, then you need to list it. If you sell feet pics on FeetFinder or are an amateur Twitch star, then LIST IT! In the least, ask your attorney about it and they can let you know. When it comes to income and filing for bankruptcy, it is not better to ask for forgiveness than it is to ask for permission.
Tax Returns
Hopefully you reported the millions you made selling feet pics to the IRS. If not, well you still need to produce your tax returns when filing for bankruptcy. Typically it is the last two to three years returns. In case you do not know what tax returns are, it is the form a taxpayer reports the income they received for that year, such as a form 1040 that includes all the schedules attached to that form. You may be permitted to substitute this with a tax transcript that is provided by the IRS or perhaps an acknowledgment from them if you are not required to file.
Bank Statements
Usually you will need to provide the last six months of bank statements from all the institutions you bank with. This is the record showing the balance in the account that lists transactions and deposits. In a Chapter 13 case, you may just need the most current statement(s) with the ending balance listed.
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