What Do I Need to Provide to File Chapter 7?
In order to complete and file for financial insolvency, you must provide the following information:
- A list and some background detail on all creditors (amount owed, date incurred, etc.)
- A detailed list of your monthly living expenses (e.g. food, clothing, shelter, utilities, taxes, transportation, medicine, etc.)
- Information and details regarding the filing and your income
- A list of all your property
- Driver’s license
- Social Security card
- A copy of your taxes from the year prior to filing
- A valid certificate of credit counseling
Married individuals must provide some of this important information for their spouse, regardless of whether they are filing together, they are filing separately, or only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse is required so that the court, the trustee, and creditors can evaluate the entire household's financial circumstances.
The Chapter 7 Bankruptcy Process
Most Chapter 7 cases take about 6 months from the initial bankruptcy filing to be discharged. Below is an overview of the filing process:
- A bankruptcy lawyer from our firm files your Chapter 7 bankruptcy case. An "automatic stay" is then ordered by the court, which stops all creditor collection actions against you.
- Approximately 30 days after filing, you must attend the "meeting of creditors" conducted by the bankruptcy trustee. Although it is called a "meeting of creditors," it is extremely uncommon for creditors to attend this meeting. You are required to and provide honest answers to the bankruptcy trustee's questions.
- Once the bankruptcy trustee is satisfied that the information you provided is accurate, you will become eligible to have your debts discharged.