What Information Will You Need to File for a Chapter 7 Bankruptcy in Jacksonville?

If you plan on filing for a Chapter 7 bankruptcy in Jacksonville, FL, then you will need to present to the court specific documentation. In this article, we’ll take a look at what sorts of documentation you will need to provide the court with. This guide will provide insight into what you should expect from your Chapter 7 bankruptcy and help you get as prepared as possible.

Pre-filing requirements: Before you file for bankruptcy in Jacksonville, FL 

Before you file for bankruptcy, there are certain steps you are required to take. One of the major ones is a credit counseling course from an agency that is approved by the United States Trustee’s office. The course usually takes about an hour and can be done over the phone or online. Once you have completed the course, you’ll receive a certificate of completion. You will need to file the certificate along with your bankruptcy petition. The certificate is valid for 180 days which means you’ll have to file for bankruptcy within 180 days of certification.

Core documents for a Chapter 7 bankruptcy in Jacksonville, FL 

• Personal identification – You will need to present the court with your social security card and another form of valid identification. This could be a driver’s license or a passport.

• Financial information – You will need to present the court with two years of tax returns. If you have a business, you will need to present three years of tax returns. You will also need to present proof of income such as pay stubs, unemployment benefits, or profit and loss statements if you run a business. Any form of income you have received over the last six months must be presented to the court. You will also need to present your bank account statements including checking, savings, and investment accounts for the past six months.

• Asset documentation – If you own real estate, you’ll need to provide the current market value of your real property which includes homestead, time shares, and investment real property. You will also need to present information on your personal vehicle. You can use the Kelley Blue Book value or a professional appraisal. Lastly, you will need to prepare a list of valuables and collectibles including furniture, appliances, electronics, and jewelry with their estimated resale values.

• Debt and liability information – You will need to provide your credit report. It will list all of your debts including those you may not remember. You will want to get reports from all three of the major credit bureaus including Equifax, Experian, and Transunion. You will then want to list all of your creditors and prepare a comprehensive list of any institutions to which you owe money. Lastly, you will want to include any legal judgments or lawsuits that have been filed against you. These include pending lawsuits that may not yet have a judgment. Also included are wage garnishments and liens against your property.

If you are filing under Chapter 7, you will also need to provide the court with a means test and a detailed expenses sheet that outlines all of your current expenses. The Jacksonville, FL Chapter 7 bankruptcy attorneys at the Law Offices of Carol M. Galloway can help you through the process. Call today to learn more.