The Documents You’ll Need for a Chapter 7 Bankruptcy Filing
January 8, 2020 By: Carrie Weir
A Checklist to Help You Streamline the Process
American bankruptcy laws were enacted to give debtors a second chance. With a Chapter 7 petition, you can permanently discharge some of your debts in exchange for transferring some property to the bankruptcy trustee, who will sell it to pay creditors. However, one requirement of the bankruptcy process is that you fully and accurately disclose all aspects of your current financial situation.
It may surprise you to learn that most Chapter 7 filings include more than 50 pages of materials. Here’s a list of the documents that are customarily required to file under Chapter 7:
- Your driver’s license and social security card
- At least six months of paycheck stubs
- Bank statementsfor the last six months
- Statements from all investment and retirement accounts, showing current market values
- A statement reflecting the current status of your mortgage, if you own a home
- Documentation of all real estate owned, including any loan balances
- A statement showing the principal balance and remaining payments on all motor vehicles
- Tax returns from the last two years
- A listing of all personal property, with estimated or known values
- Current credit card statements
- A current credit report
- Estimates for the cost of necessary repairs to real or personal property
- A certificate indicating that you have completed credit counseling, as required by bankruptcy law
Under the bankruptcy law, the above documents must be submitted to the trustee at least seven days before the mandatory meeting with creditors. You can, however, submit the documents earlier, which can help your bankruptcy proceeding move more smoothly and even finish sooner.
Contact Heath, TX Bankruptcy Attorney Carrie Weir
I offer a free initial consultation to all potential bankruptcy clients. Contact my office by e-mail or call me at 972-772-3083 for a private meeting. With offices in Rockwall, Texas, I represent clients in Heath, Greenville, Lavon, Wylie, Mesquite, and Rowlett.