Documents Needed To File For Chapter 7 Bankruptcy

Chapter 7 bankruptcy relieves individuals, partnerships, corporations or other businesses struggling with overwhelming debt. However, Chapter 7 bankruptcy is popular among individuals. Unlike Chapter 13 and Chapter 11 bankruptcies, Chapter 7 bankruptcy does not involve a repayment plan. Instead, the bankruptcy trustee sells the debtor’s nonexempt property and uses the money to pay creditors per the provisions of the Bankruptcy Code. After assets have been used to repay debts, the court typically issues a discharge order, which releases the debtor from personal liability for most of the remaining debts. 

While Chapter 7 can allow you to get your finances back in order, the process isn’t always straightforward. Working with an attorney who is experienced in Chapter 7 bankruptcy can help. A big part of the process is gathering the appropriate documentation. These are the ones you typically need:

Forms Your Attorney Will Request

At Law Office of Adam I. Skolnik, P.A., we have a thorough intake process to ensure we are serving you within the confines of the law and in a way that is best for your situation.

• Client info sheet: This informational form will include basic details about yourself, such as name, address, marital status, employment information, social security number and more. 
• Debt assistance initial consultation agreement: This document includes legal information about your rights amid Chapter 7 bankruptcy and an outline of how you and your attorney will work together throughout the process. It also contains information about essential disclosures and laws. 
• Chapter 7 intake form: The client intake form is where you provide details on the full scope of your financial situation. 

Once you provide your bankruptcy counsel with all of these forms, they can better move forward with a better understanding your situation to help you file Chapter 7. 

Other Necessary Forms

These are the other documents you’ll need to file to ensure the process goes smoothly: 

Tax/Financial Forms

To file for bankruptcy, you will need to paint a clear picture of your financial background. This financial documentation can include: 

• The last three years of your complete tax returns
• The previous 12 months of bank statements
• The previous 12 months of pay stubs
• Credit card balances/statements
• Collections notices
• Medical bills
• Stock/bond statements
• E-currency/cryptocurrency statements

These can also include proofs of other income, such as Social Security, pension, rental income, food stamps, alimony, child support, and any financial support from family or friends. 

License/Registration/Insurance Forms

The first thing you will have to prove in the process is your identity. These documents can include copies of your:

• Driver’s license
• Social Security card
• Vehicle registrations, including those for boats and planes
• Automobile lease
• Proof of insurance for all vehicles
• The rental agreement for a home 

Which of these forms you will need can depend on which identifications you have. 

Property Forms

Property is often the largest asset many individuals own. When collecting information on your holdings, the property forms can include: 

• Homeowner’s/renters insurance
• Payment coupon or statement for homeowner’s associate (if applicable)
• Last mortgage statement for all properties
• Copy of deeds to all properties
• Copies of any judgments

Your property situation won’t look the same as others. 

Business Forms 

If you also have ownership of a business, you will need documentation for this as well. This can include the following: 

• The last three years of your business tax returns, including schedules
• The last 12 months of bank statements and canceled checks 
• Copies of vehicle registrations for the business
• Proof of insurance for business vehicles
• A copy of your business lease
• Copies of leases for business equipment 
• Copies of business loans
• List of all employees
• One year quarterly 941s
• One year quarterly UCT6 (Florida Department of Revenue Statements)
• Copy of business license 
• Your two most recent profit and loss statements
• Your two most recent balance sheets
• Your two most recent cash flow statements 
• An appraisal of your business
• List of each business asset that is worth more than $1000
• The market value of all other business assets 
• The market value of your accounts receivable 

These typically only apply if you own a business.

Contact Our Deerfield Beach Bankruptcy Lawyer

If you are considering filing for Chapter 7 bankruptcy, contact an attorney. Our Deerfield Beach bankruptcy lawyer at the Law Office of Adam I. Skolnik, P.A., can help you prepare all the documents you need to file your case. We can help you file your case and guide you through the process. Contact us today to schedule a consultation.