Chapter 13 Bankruptcy Forms - your questions answered right here...
More About Chapter 13 Bankruptcy Forms...
Both chapter 7 and chapter 13 require even more paperwork since the Bankruptcy Abuse Prevention and Consumer Protection Act was passed in 2005. Since failure to file the correct documents can result in your case being dismissed, it's a good idea to have an attorney at least review any your documents.
The information to take when consulting your bankruptcy attorney is the same as that for bankruptcy chapter 7 Most of the documents required are also the same:
Bankruptcy petition
List of creditors
Schedule of your assets and liabilities
Schedule of your current income and expenses
Statement of your financial affairs
Certificate from your attorney or bankruptcy petition preparer (if there is one) stating you have received a notice describing the bankruptcy chapters and services available from the required credit counseling agency as well as a statement specifying that anyone who knowingly or fraudulently conceals assets or lies under oath is subject to fine, imprisonment, or both. If no one helped you prepare your petition, you must file a certificate that you received such notice from the bankruptcy court and read it.
Copies of all pay stubs you received with the 60 days before filing
An itemized statement of your monthly net income showing how it is calculated
A statement listing any reasonably anticipated increases in your income or expenses for the next 12 months
If you have property that secures a debt (usually a home and/or car), a statement of your intention with regard to the treatment of the property in bankruptcy
A certificate from an approved credit counseling agency that describes the services provided and a copy of your debt repayment plan (if any) developed by that agency
A record of any interest you have in an individual retirement account
Income tax returns for the past four years
An analysis of the means test
In addition to these documents, you will need to submit a plan that show how much you will pay your creditors and over what length of time. The plan must show that you will pay creditors at least what they would receive under chapter 7 bankruptcy. This basically means your creditors must receive payment equal to the value of your non-exempt assets. This value is what the asset is worth at the time you file bankruptcy.
Your repayment plan must also show that you contribute all of your disposable income to debt repayment. It's usually income left over after your provide for support for you and your family, but it many cases, that amount is determined by a means test. The means test involves income averaging for the past six months and then deducting allowed expenses. It can be complicated, so you might do best to leave it to your bankruptcy attorney.
When you have your 341 meeting with creditors, you may be asked to require additional documentation.
With the addition of a required repayment plan, chapter 13 bankruptcy is more complicated than chapter 7 bankruptcy. The majority of people would probably decide to use a bankruptcy attorney for chapter 13. You can still save money by completing as much of the paperwork as you can.
With the addition of a required repayment plan, chapter 13 bankruptcy is more complicated than chapter 7 bankruptcy. The majority of people would probably decide to use a bankruptcy attorney for chapter 13. You can still save money by completing as much of the paperwork as you can.
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