What Is A Chapter 7 Bankruptcy Case And What Do I Need To Get Started?

People file Chapter 7 bankruptcy to get a discharge of debts. At the end of the Chapter 7 you don’t owe the money anymore.

Of course, not all debts are dischargeable. For instance:

  1. A car note for a car you want to keep. Same for a home mortgage;
  2. Student Loans; Child support payments; parking tickets and tollways debts;
  3. Income tax debts. But, some IRS debts are dischargeable;
  4. Co-debtors nor Cosigners receive a discharge in your Chapter 7.

Also, creditors can file a complaint to except a debt from discharge. This is rare. A competent lawyer looks for problem areas and can discuss solutions.

What Do I Have To Do To File Chapter 7?

  1. At least the last 60 days of pay stubs. It is possible that more is needed if your pay goes up and down.
  2. Do you receive unemployment or on Social Security or on a Pension: a letter showing the amount is enough.
  3. If you have not worked for all or any part of the last 60 days we prepare an affidavit.
  4. If you get paid cash or by check with no pay stub: a letter from your employer is enough.
  5. I’m married but only I’m filing. If you are living with your spouse we need to know your spouse’s income.
  6. The last 4 years of tax returns. Some folks are not required to file a tax return: so an affidavit will do.What if I haven’t filed my taxes?
  7. Some folks are not required to file a tax return: so an affidavit will do.
  8. Some folks have not filed for some reason or other. You must now file. If you don’t the case will be dismissed.
  9. Bring in all your debts. While we help you get your free credit report there are creditors who do not report to the credit bureaus. Bring in collection letters, lawsuits, and wage or bank garnishments. Bring everything. We can return anything we don’t need.
  10. If you have a car note it is helpful if we know the balance: how much to pay the car off today. If you still have the retail installment contract it is helpful.

The above may sound complicated but it is not very hard. We will help you every step of the way. The law firm Robert J. Adams & Associates does this every day.

Disclaimer: Blogs on legal matters are for information purposes only and is not to be construed as legal advice.

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