If you are planning on filing for bankruptcy, it is essential that you ensure you have the forms necessary for the process. The papers required for your bankruptcy may vary depending on what state you live in. A bankruptcy attorney can assist you in making sure that you have all of the forms that you need and can utilize these to your advantage.
One of the first papers that you will want to make sure you secure is the bankruptcy petition form. This is the form which states what chapter of bankruptcy you plan to file under, and will also help you to provide details of your assets and liabilities. You will want to fill out this form with the help of a reliable bankruptcy attorney. If you make mistakes on the form, you could be charged with bankruptcy fraud. This is why it is essential for you to hire someone who can watch you fill out the forms and give you helpful tips about to be as honest and accurate as possible.
After you finish filling out your bankruptcy petition, you will then move on to exhibits. These are detail sheets required by the bankruptcy court as they asses your case. Normally, filers need to file an Exhibit A if they are filing a Chapter 11 bankruptcy, and must file an Exhibit B if an attorney is preparing the petition instead of leaving you to do it on your own.
Also, some people are required to file an Exhibit C if they own or possess property that may pose a threat to public health or safety and an Exhibit D. This last exhibit is a statement showing that you have completed the credit counseling requirement prior to filing. Many individuals are required to undergo this counseling before they have permission to file for bankruptcy. Unless they have completely finished the counseling program, they may not be permitted to proceed with the process.
After filling out exhibits, a bankruptcy filer will need to submit a set of schedules. These can be excessively time consuming, and it is best to have an attorney there to help you with this task. Normally, the schedules provide a statistical summary of liabilities and related financial information. There are 11 schedules that cover different asset areas. You may be required to fill out all of these schedules or hardly any of them depending on the nature of your bankruptcy and what assets you possess.
Your court may also require some local forms. These can be contingent on the type of bankruptcy that you are filing and the details of your case. You will want to talk with your bankruptcy attorney about any common local forms. Sometimes individuals may require that you file forms regarding liens or regarding claim objections and property redemptions. Also, local procedural requirements may be dealt with using forms.
One of the most important forms that you will be required to fill out regarding your bankruptcy is a signed document stating that to your best knowledge, of the information included in the above documents is true, correct, and complete. Misrepresenting the state of your assets, financial affairs, or liabilities is considered illegal.
You may even be sent to prison for this type of fraud, and your bankruptcy will certainly be terminated. You will barred from filing for bankruptcy again for a set period of time. If you want to avoid bankruptcy complications then you need to contact an attorney at the firm right away for more information. Don't hesitate to call a local bankruptcy attorney to support you in your case today!