Bankruptcy

Filling Out Chapter 7 Bankruptcy Papers

When it comes to filling out chapter 7 bankruptcy papers, there are several things that you need to take into your careful consideration. The process of bankruptcy petition under this chapter requires you to work with a large bundle of forms. It can be a highly time consuming and very complicated process. Those who are aware of the different types of forms and what kind of details they need to provide in which form may not find the task a very difficult one, but still, since there are so many forms to deal with, the process still takes a lot of time. Therefore, it is very important for you to have a calm mind while you are dealing with the same. It is very important for you to keep in mind that any mistake on your part, such as an incomplete or inaccurate piece of information, can make things very difficult for you, as you may have to pay extra charges (which can be a hefty one) and deal with more paperwork to rectify the errors. Therefore, you have to be very careful while you are working on these forms. If you are not confident about your legal knowledge, do not hesitate to get help from a specialized bankruptcy attorney. Following are some of the points that you must keep in mind in this regard.

Wage Stubs And Recent Tax Returns

While you are filling out chapter 7 bankruptcy papers, the first thing you have to do is to gather your wage stubs (for at least the last two months) and the most recent tax returns. You are not just required to attach the copies of the same with your filing, but you also need to refer to the information in those documents several times while you are trying to complete the different forms as part of the petition filing process.

Attend Credit Counseling Class

As per the bankruptcy laws applicable in the United States of America, it is legally mandatory for you to attend a credit counseling session at least six months prior to filing the petition. The credit counseling agency you work with must be duly approved by the U.S. Trustee Office. However, you have got options – you can attend the class by visiting the agency office personally, through phone, or through Internet (online counseling). This can be an hour long session, after which, the counselor will issue you a certificate. Make sure you get this certificate, as your petition will not be accepted without it.

Download The Necessary Forms

When it comes to filling out chapter 7 bankruptcy papers, there are so many different types of bankruptcy forms that you need to deal with, such as Schedule J, Schedule I, Schedule H, Schedule G, Schedule F, Schedule E, Schedule D, Schedule C, Schedule B, Schedule A, Form B1, Form B4, and many others. All these forms are very detailed and if you fill them a little each day, y6ou may have to spend at least fifteen days before you can finally complete all the forms accurately. You can download all these forms free of cost from the official website of the US courts.

Additional Forms

The bankruptcy forms mentioned above are the basic ones that all applicants need to fill out. Depending upon the various specific factors involved in your case, the bankruptcy court may require you to fill out an array of several other forms as well. You can download these additional bankruptcy forms by visiting the official website of your local bankruptcy court. While you are filling out chapter 7 bankruptcy papers, especially these additional forms, it is important for you to keep in mind that you do not have to write by hand; you can either type the form on your PC and then get a print or fill out and submit the form online.

Be Truthful While You Answer Any Question

Even if you do not do it intentionally, but if at any stage, the court finds it out that some of the information that you provided on the bankruptcy forms are not accurate, you may be suspected for bankruptcy fraud, which can make things very problematic for you. Therefore, be very careful, more importantly truthful, while you are answering the questions asked in the forms. If you come across any question that is not applicable in your case, you just have to write N/A in the provided space. On every form that you fill out, there are two very basic things that you must not forget to mention – your name (the name of the debtor) and the court name (such as the Central District of California).

Read The Instructions Thoroughly

While you are filling out chapter 7 bankruptcy papers, it is important to note that each and every bankruptcy form comes with a detailed set of instructions. Make sure you follow those instructions thoroughly. You do not need to read the instructions all at once. You can refer to the specific points while you are filling out the different sections in the form. There are also specific instructions about how you should attach the forms in the preferred manner and how the forms should be put in the correct order.

Once you are through with the process of filling out chapter 7 bankruptcy papers, you can file the petition with your local bankruptcy courthouse. AT present, the filing charges are somewhere around $300.


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