RESOURCES & DOs AND DON'Ts OF BANKRUPTCY

Before we can file your case, you will need to turn in several documents that are both required and/or will help us prepare your schedules.  We have listed the documents below along with the resources you need to help us prepare your case.  When you are ready, you can upload your documents to our secure portal.

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Do provide REQUIRED DOCUMENTS

This option is the most straightforward way to settle your financial debts. Chapter 7 involves the liquidation of your various assets (with some exceptions) to pay for your creditors. The details of the process for individuals differ from the ones used for businesses and are generally more lenient in which assets are exempt from liquidation.

  • Copy of Tax Returns. Provide the most recent two years. If you don't have a copy, you can order one from the Internal Revenue Service. Click HERE. to order your Tax Return Transcript.
  • All Income in the last 6 months. Includes: all paystubs, Self Employment income, IRA distributions, Child Support, Alimony, Gifts of Money, Pension, Unemployment, and Rental income.
  • Valid Photo ID (state issued drivers license or ID, passport, legal resident or alien card).
  • Proof of Social Security Number (social security card, W2, or document containing a pre-printed social security number. If you need a new social security card, Click HERE.
  • Pre-filing Credit Counseling Certificate. Have the Certificate sent directly to our office with office code Knash1. The Certificate is good for 6 months. Click HERE. to start the class.

Resources & worksheets

Using this option involves reorganizing your finances to create a plan for you to pay your creditors. Plans average around 3-5 years in length and must adhere to certain conditions. Chapter 13 also has the advantage of protecting your property from foreclosures for the duration of the plan.

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not all debts are dischargeable

You should know that even if you file a bankruptcy and receive a discharge, some debts are not dischargeable and you will still be responsible to pay:

  • Certain Taxes 
  • Most Student Loans 
  • Domestic Support Obligations and Property Settlement Obligations
  • Most Fines, Penalties, Forfeitures and Criminal Restitution Obligations.
  • Debts arising from
    • Fraud or Theft
    • Fraud or Defalcation while acting in a fiduciary capacity
    • Intentional Injuries
    • Death or Injury caused by operating a motor vehicle while intoxicated.

Consult with our office to determine if your debt falls into one of these exceptions. 

Advice,Help,Support,And,Tips,Signpost,Shows,Information,And,Guidance.

bankruptcy don'ts

There are bankruptcy don'ts you should be aware of before filing. For instance, it's not a good idea to bank where you owe a debt.  You should close that account before you file.

Review the list of BANKRUPTCY DON'Ts and contact our office.  We will explain your options.

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