D is for Documents in the Bankruptcy Alphabet

December 06, 2011  |   Posted by :   |   Bankruptcy,Bankruptcy Procedures,How-To   |   15 Comments»

You may or may not be surprised, but you need to provide a lot of documents when you file bankruptcy.  As a bankruptcy lawyer in Philadelphia and its surrounding areas, I do not require potential clients to bring any documents to the initial consultation, but you can bet you will leave with a list of documents that would be needed should you decide to proceed with filing a bankruptcy case.  Depending upon your specific circumstances, that list can be fairly long.

How to Provide Documents

Even in this electronic age where bankruptcy courts require attorneys to file everything electronically over the internet, I still like to hold paper in my hands – not every document, but particularly the ones that I have to work with extensively.  At some point though, most every document is going to be converted into an electronic format, either for filing or transporting purposes, or merely for storing in an electronic file to cut down on paper and space.  So, we request our clients to provide documentation in an electronic format if possible.

The Documents Needed to File Your Bankruptcy Case

The most important documents your bankruptcy attorney will request from you will be evidence of all your household income received during the prior six months and your last four (4) years of income tax returns.  The income evidence usually will be in the form of paystubs if the individual is an employee, or it may also be a social security income award letter, an unemployment compensation benefit letter, a letter of monetary contribution from family or friends, or even bank statements showing deposits for some type of income.

In addition to the income documentation and taxes, some of the other documents commonly needed include:

  • Bills and collections letters for all your debts
  • Financial account statements (checking, savings, money market, CDs, stocks, mutual funds, etc.) for the prior six (6) months
  • Most recent mortgage/s statements
  • Most recent car loan/s statements
  • Declaration pages for your homeowner’s and auto insurance policies
  • Auto loan financing agreement/s
  • Copy of the deed/title to all real property that has your name on it regardless where the property is located
  • Certification that you have taken a pre-bankruptcy credit counseling course from an accredited provider
  • Copy of your driver’s license or other state ID with you photo on it
  • Copy of your original Social Security card

Depending upon your specific circumstances, there may be further documentation needed.

Forms Provided by Your Bankruptcy Lawyer

Your bankruptcy attorney may also give you some forms to fill out.  We usually work off the documents requested, but we do have clients fill out a sheet that lists their average monthly household expenses.  This is also usually the most difficult form for clients to fill out because of the variable nature of life.

For example, you may have spent $1,200 in March to fix your roof on your home, or perhaps $500 for new brake pads on your SUV, and neither of these is a “monthly” expense.  We typically tell our clients to determine what they spent on their cars and/or home over the last year and divide by twelve (12).  They should also take into consideration work or repairs that will be needed in the near future.  This method also is the best way to account for seasonal changes affecting utility bills.

The Bankruptcy Forms filed with the Court

After your bankruptcy attorney completes all the forms to be filed with the bankruptcy court, you should sit down with him or her and go through them page by page.  I usually use this time to verify that all the information is correct and make any revisions while my clients are sitting there.  It saves a lot of headaches in the long run.  This is when you also should sign all the forms that will be filed with the court.

Always request a copy of the actual documents filed with the court.  I have been shocked to learn that some bankruptcy debtors do not get copies of the actually filed documents from their bankruptcy lawyer, but instead have some draft version they were provided before filing.  You should save a copy of the filed version with your important records.

If you are in the Philadelphia area and looking for a compassionate bankruptcy lawyer to help you find out your options, please contact the attorneys at Coleman & Kempinski P.C., Kim Coleman and Ray Kempinski, for a FREE CONSULTATION.

Image Credit:  Karyn Christner

Other Attorneys blogging the Bankruptcy Alphabet believe D is for:

Email
Share

Related Posts

There is no related post.

15 Trackbacks / Pingbacks for this entry

Leave a comment