20 Oct How do I file bankruptcy? Duties and Documents in Chapter 7 and Chapter 13.
You can find a comprehensive list of duties related to filing chapter 7 and chapter 13 bankruptcy at 11 USC 521. This list includes acts of filing documents with the court, delivering records to the trustee or creditors, doing some things and not doing other things. Many of these terms have specific meaning related to bankruptcy law and local rules and procedures vary across the county. You should always consult an attorney for bankruptcy assistance.
HERE IS AN ABRIDGED LIST of things a debtor is required to file at various times during most cases:
- a list of creditors;
- a schedule of assets and liabilities;
- a schedule of current income and expenditures;
- a statement of the debtorâ€™s financial affairs;
- a certificate from an attorney or a petition preparer indicating that such person delivered the notice that is required by section 11 USC 342 (b) or that the notice was received and read by debtor;
- payment advices or other proof of payment received within 60 days before the date of the filing of the petition;
- an itemized statement of the amount of monthly net income;
- a statement disclosing reasonably anticipated increases in income or expenditures over the 12-month period following the date of the filing of the petition;
- a statement regarding retaining or surrendering property that serves as collateral for debt and, if applicable, specifying whether that property is exempt, will be redeemed or the debt will be reaffirmed;
- a certificate from an approved credit counseling agency that provided debtor services under section 109 (h), and a copy of a debt repayment plan, if one was suggested;
- a record of interest a debtor has in an education IRA or State tuition program;
- each required Federal income tax return and any amendments while the bankruptcy case is pending;
- each required Federal income tax return and any amendments that had not been filed during the 3-year period ending on the date of the commencement of the case;
- in chapter 13 cases file an annual statement of income and expenditures and of monthly income.
HERE ARE A FEW additional documents a bankruptcy debtor must provide to the trustee:
- the Federal income tax return that was required and was filed for the most recent tax year ending immediately before debtor filed bankruptcy, and provide a copy to any creditor that timely requests a copy;
- documents or information that establishes the identity of the debtor.
HERE IS A SHORT LIST of things a debtor shall do while in bankruptcy:
- cooperate with the trustee as necessary to enable the trustee to perform the trusteeâ€™s duties;
- deliver to the trustee all property of the estate and any recorded information;
- appear at a hearing required to reaffirm a debt;
- continue to perform any duties debtor may have as administrator of an employee benefit plan unless a trustee is appointed;
- perform the intention debtor stated regarding property that serves as collateral for debt.
WHILE IN BANKRUPTCY a debtor shall not keep personal property that is subject to a secured debt without reaffirming the property pursuant to section 524 (c) or redeeming the property under section 722.
Additionally, the Federal Rules of Bankruptcy Procedure and local court rules supplement this list with additional requirements. An experienced bankruptcy attorney can help a person compile the extensive documents necessary to complete the bankruptcy process in an orderly fashion.
Andy Miofsky, Esq.
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