What Documents Will I Need to File for Bankruptcy?
Choosing to file for bankruptcy is never easy. However, it can be the right decision when your debts have become unmanageable in relation to your income. Knowing that you won’t have to continue receiving telephone calls and letters from aggressive collection efforts is a great relief. At the same time, compiling the paperwork you need to start the bankruptcy process can be overwhelming. The Dansby Law Firm recommends that you prepare for filing bankruptcy by gathering your financial records first.
Financial Documents You Will Need to File Bankruptcy
Your financial paperwork helps your attorney determine whether Chapter 7 or Chapter 13 bankruptcy is the best option for you. You should plan to collect these documents at a minimum:
- Pay stubs for you and your spouse from the past 6 months
- If you are self employed, a list of income and expenses for the past 6 months as well as a list of assets owned by the business
- The most recent bill that you have received from every creditor
- Copies of your tax returns for the past two years
- All written correspondence you have received from creditors, especially demand letters or foreclosure documents
- Any documents that you have received from the sheriff or process server in connection with a creditor suing you
- The name and address of each person to whom you pay child support
- A list of the names, addresses, and amounts of all payday loans
- Paperwork for any lawsuits in which YOU are suing someone else
We understand that not everything may apply to you on this list, and yet there may be still some items that are not on this list. However, you can use it as a basis to go through your financial documents to begin the process. Your bankruptcy attorney will let you know if there’s something else you must have if you don’t bring it with to one of your early meetings. If you don’t have original documentation of a mandatory item, you will need to contact the appropriate issuing party to request a duplicate. If you do not have a copy of your tax returns, you can call the IRS to request a transcript that is free.
Legal Records You May Need When Filing Bankruptcy
If you’re involved in pending litigation, a divorce, or any other legal situation, be sure to locate the appropriate documents and show them to your bankruptcy attorney. Any previous judgments filed against you will factor into which type of bankruptcy is right for you to file at this time. Additionally, any current court order or pending litigation will help to determine how much money you have available to re-pay your creditors. Please locate the following legal documents if these situations apply to you:
- Any court order or divorce decree that orders you to pay spousal maintenance or child support and makes a division of property that you own
- Paperwork from any judgments filed against you
- Paperwork from your legal relationship with any previous attorneys
Preparing both your financial and legal documents in advance of your initial consultation can help you maximize the time with your attorney.
We Help You Find the Best Solution for Your Financial Struggles
Attorney Janet Shannon directs the bankruptcy legal practice here at Dansby Law. She has several years of experience guiding consumers through the processes of Chapter 7 and Chapter 13 bankruptcies. If bankruptcy is not the right answer for your situation, she will help you find the most appropriate solution. We never push our clients to choose one debt relief option over another. To learn more about how we can help you legally file for debt elimination or reorganization, contact The Dansby Law Firm in Montgomery, Alabama at 334-834-7001 to request your free consultation.