A big part of the bankruptcy paperwork process involves gathering the proper documents. This process can seem painstaking and overwhelming at times, as you’ll need to gather and produce all documents relevant to your income and expenses, assets, debt, and property transfers. To help guide you through the process of bankruptcy paperwork, we’ve put together a short guide on the types of documents you should be prepared to produce to file for bankruptcy.
You’ll need to produce bankruptcy paperwork that serves as proof of income. For most people, this involves producing pay stubs from the past six months, as well as tax forms (these would include W-2’s or 1099’s if you are a contractor or self-employed).
You’ll need to provide mortgage statements that show and outline any remaining principal balances on your loan and any payment amounts. If you own any real estate, you’ll need to show documents that prove the fair market value of the property (these can be produced using online valuation tools, full appraisals, or broker prices).
You’ll need to provide tax documents from the last 2 or 4 years (depending on whether you are filing chapter 7 bankruptcy or chapter 13).
If you own a car, you’ll need to produce the proper documents showing its value and any monthly payment amounts.
IRA’s and Bank Accounts
You must provide recent statements for all bank accounts and retirement accounts to your bankruptcy trustee.
If you have any other circumstances or unusual expenses that directly affect your financial situation, you’ll need to produce documents relevant to these as well. Examples include alimony or child support documents.
Parker & DuFresne
Filing bankruptcy is a strenuous enough process and we at Parker & DuFresne want to take the stress out of it. By collecting all documents and information before your consultation, it will be easier for our team to get you back in the financial state you need.