Tuesday, November 15, 2016

What Documents Are Needed To Start A Bankruptcy Case?

Nearly everything you do has a prerequisite, or a condition that must be met before proceeding. This is true from very early on in life, when you have to be 5 b a certain date to start kindergarten. And, we see this type of thing over and over as we get older, such as the requirement that you turn 16 before you can get your driver’s license, be 18 before you can vote, and turn 21 in order to purchase alcohol. When the task at hand is administrative, there is often the need to gather documents and data before you can tackle what needs tackling. Just like you wouldn’t go to your CPA to prepare your taxes without your W-2, you have to gather certain things before you can file a bankruptcy.

In order to have a bankruptcy case started, here are the documents you need to gather and give to your attorney:

         Pay stubs for at least the past six months.
         Copies of your tax returns for the past 3 to 5 years.
         Copies of car and boat titles.
         A copy of the deed or title to your house.
         A list of all of your creditors, with their addresses and the amount you owe.
         A list of all of your assets that do not have liens.
         Proof of identity.
Once you have all of these things organized and in one spot, you are ready to go talk to an attorney about your needs. Your attorney will look over these documents, perform a complex mathematical computation, and let you know what type of case you qualify to file. You will qualify for either a Chapter 7 or a Chapter 13, and depending on your needs you will have to make a decision about whether you will file. Be sure the attorney you speak with explains the difference between these two types of cases, and do not make a decision until you are satisfied that the type of case you qualify to file will help you. It is uncommon for a person to receive no benefit from filing, but it is important to know what you are getting into before you take the leap. If you want to know more about how bankruptcy can help you, call us today.

If you have more questions about bankruptcy, contact us at www.law-ri.com. We will help by coming up with solutions that work for you and have multiple locations to meet your needs for office visits.

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