Documents Needed for Bankruptcy

A Level Academy Islamabad

Transcript

00:00Okay, so bankruptcy isn't the funnest process in the world.

00:05And document collecting is even less funner.

00:08Combine the two and it's a kaiju of un-fun-ness.

00:13But it has to be done, and knowing what documents to prepare for the trustee of your bankruptcy

00:17case will only make the process that much easier.

00:21The documentation you need is generally the same for both Chapter 7 and Chapter 13 bankruptcies.

00:28First you'll need your tax returns and your W-2s from the previous two years.

00:32You'll need to show your income, which means copies of your pay stubs from the six months

00:36prior to the bankruptcy filing, along with any additional income sources like rent collected,

00:41disability, and social security.

00:44Self-employed?

00:45Then you're going to need a profit-loss statement, both year-to-date and for the two

00:49whole years prior.

00:51And you might have to provide your business bank accounts to prove it all.

00:55If you're a real estate owner, you'll have to provide the fair market value of

00:58your property and prepare to hand over mortgage statements.

01:02And depending on your trustee, maybe even the mortgage or deed of trust and home insurance.

01:09Similar approach regarding your vehicles, a legitimate proof of value and, if applicable,

01:13a recent car loan statement should suffice.

01:16Although copies of your registration and insurance might be an additional trustee request.

01:21Finally, statements of your personal bank and retirement accounts, along with documentation

01:27of financial obligations, such as alimony or child support, will be required of you.

01:32Oh, and don't forget to bring your photo ID and proof of social security to any hearing.

01:38For any more help during your bankruptcy case, turn to ICE Legal, your partner in law.