Documents For A Consumer Bankruptcy Case

Consumer bankruptcy cases and business bankruptcy cases have some similarities, but they also have many differences. Even if you have gone through a Chapter 11 or Chapter 7 business bankruptcy case in the past, you will need to learn more about consumer bankruptcy requirements if you are planning to file as an individual. An important part of any consumer bankruptcy process is ensuring that you have all required documents and that you submit them to the bankruptcy court at the appropriate time. There are various types of documents required for Chapter 7 and Chapter 13 bankruptcy filings, with some overlap. In general, the following are the documents that are in your possession that you will need to have in order to file for consumer bankruptcy, along with schedules and forms required by U.S. bankruptcy law.

In addition to these documents discussed above, you will need to work with a bankruptcy attorney to determine which specific schedules and forms will also be required in your bankruptcy case.

Income Information 

Consumer bankruptcy cases require documentation of the debtor’s income. You can usually provide this with W-2s, 1099s, or related documents.

Bank and Financial Account Statements

 Your bankruptcy case will require evidence of all bank and financial accounts you hold. As such, you should begin gathering account statements and account documents.

Retirement Statements 

Although most retirement assets are exempt in consumer bankruptcy cases in Florida, you will need to provide evidence of your retirement assets.

Tax Returns 

You will need to have copies of your most recent tax returns. In most bankruptcy cases, courts will want tax returns from the last two years. If you did not file a tax return, you will need to provide a written explanation in most circumstances. If you were required to file but did not, you will need to file your tax returns and face any outstanding penalties and fees.

Mortgage Documents 

Mortgage documents are necessary if you currently own your home. You will need to provide documentation of the current fair market value of your home, which will require an appraisal. Depending upon your circumstances, you may have multiple options for getting an appraisal or obtaining a valuation. You should also have a copy of your recent mortgage statement that shows the balance on your loan, the amount of your monthly mortgage payment, and the number of payments remaining on the mortgage.

Motor Vehicle Documents 

You will also need documentation for your motor vehicle (or vehicles), including evidence of the vehicle’s value and information about the vehicle registration. You can usually obtain valuation information by entering specific details about your car or truck on Kelley Blue Book or a related site. In addition, if you are still making payments on a motor vehicle loan, you will need to have a copy of the most recent statement that shows what you still owe on the car, the amount of your monthly payment, and the number of payments remaining on your loan.

 Contact a Personal Bankruptcy Attorney in West Palm Beach 

Consumer bankruptcy cases are complicated regardless of whether you are filing under Chapter 7, Chapter 13, or another bankruptcy chapter. One of the experienced West Palm Beach personal bankruptcy lawyers at Kelley Kaplan & Eller are able to talk with you today about your bankruptcy case and provide you with more information about the materials you will need in order to move forward with a consumer bankruptcy case. If you need assistance filing for bankruptcy, you should get in touch with our firm as soon as possible.

Source:

law.cornell.edu/uscode/text/11