Preparing Documents for Your Chapter 7 Bankruptcy Filing

The most successful New Year’s resolutions are the ones you start working on in the old year.  People who are really serious about losing weight adopt healthy habits starting now, to whatever extent they can, instead of procrastinating until some apparently auspicious date.  The agony of smoking the tenth to last cigarette in what you promise will be your last pack of smokes is harder than simply leaving your cigarettes at home when you go to work one day and seeing how long you can make it without one.  Every January, the courts receive documents that are the New Year’s portion of resolutions that people started implementing in the old year.  For example, couples who decided, over the course of the old year, to end their marriages file their divorce petitions on the first Monday in January, so that they can make a clean break between tax years.  Likewise, if you plan to file for bankruptcy protection in early 2024, then now is the best time to contact a Jupiter chapter 7 bankruptcy lawyer.

Which Documents Do You Need to Submit When You File for Bankruptcy?

Chapter 7 bankruptcy cases are a popular option for individuals who are struggling with unpayable debts.  The time from filing your documents with the court to seeing your eligible debts disappear is less than a year, but in order to get the maximum possible debt relief out of your case, you must ensure that all of your documents are thorough and accurate.  You will need to review them with a bankruptcy lawyer before you file your bankruptcy petition with the court.  If you have an appointment with a bankruptcy attorney in early January, then these are the documents you should search for in your storage room and the computer files you should print out during the holidays while the rest of your family is watching Elf or playing Cards Against Humanity:

• Account statements of your checking accounts, savings accounts, and investment accounts, if any
• Income tax returns for the past few years
• Pay stubs going back for the past year and your most recent W-2 and 1099 forms if you have income from employment or freelance work
• The title to your house and, if you have owned it for more than a year, a recent appraisal of its value
• The titles to your vehicles and other valuable assets that you own
• Proof of your expenses, including utility bills, gas receipts, and grocery receipts

The bankruptcy courts will need these documents as proof that you cannot continue making payments on the debts for which you are requesting discharge.  These documents will also prove to the court which assets of yours are exempt from liquidation.

Work With a Debt Lawyer About Preparing for a Bankruptcy Filing

A South Florida debt lawyer can help you prepare for a successful chapter 7 or chapter 13 bankruptcy filing by getting all of your financial documents in order.  Contact Nowack & Olson, PLLC in Jupiter, Florida to discuss your case.