What to Provide When Filing Bankruptcy

Before you get to the actual step of filing bankruptcy, there are some things you’ll need to gather. Bankruptcy law is intricate, and it requires personal information and documentation of your financial information in order to move forward. Make sure you have everything you need when filing bankruptcy.

Basic Personal Information

You’ll need to provide your name, address, and the last four digits of your Social Security number, along with any names you’ve used in the past 8 years, the age of your children, the name and address of your employers and information about your spouse (if you have one).

Proof of Income

Your most recent tax return and proof of income—pay stubs or a statement from your employer— will be required when filing bankruptcy. Forms will require you to provide information from the last two years of employment.

List of Expenses

You will be required to provide a comprehensive list of your expenses. This is an important step to be thorough, as it helps bankruptcy law determine how much you need to live off of. Supply a list, as accurate as possible, of expenses, from mortgage and auto loan payments to utilities, groceries, medical, gas, insurance, home or auto maintenance and repairs, etc. Don’t forget to include expenses that are only paid once or twice a year, like personal property tax, school expenses or insurance.

Assets

Bankruptcy law requires you to submit a list of all assets and their value. You don’t have to include smaller details, like pillows, towels, silverware, etc., but this list should give an honest account of what assets you have going into the bankruptcy. Besides the obvious big-ticket items, such as your house, car(s) and big screen TV’s, you may also include smaller items of value like jewelry and furniture. Assign a value to these items according to how much money they would cost to replace. Assets also include intangible items, such as bank accounts and 401ks.

Debts

A comprehensive list of your debts will be required when filing bankruptcy, including the creditor and contact information, account number and the amount owed.

Financial Transactions

Money transferred, debts paid, accounts closed, and property sold or given away will all need to be submitted with your financial records.

Filing Bankruptcy with a Lawyer

This list is all of the in-depth information that will be required of you. That alone is a lot of work, delving into your finances, a topic that you’re probably quite overwhelmed by, as is. If you hire a bankruptcy lawyer, that’s all you have to do. At RGG Law, our team of seasoned bankruptcy lawyers will handle your case with care, being your advocate at every turn. Set up your free consultation with the best bankruptcy law firm around, and let us walk you through the complex process of filing bankruptcy.