What’s Involved When Filing Chapter 7 Bankruptcy?

After deciding to file Chapter 7 bankruptcy it is time to work with Colorado Chapter7 bankruptcy attorneys to determine which forms of paperwork you will need to submit in order for your suit to be recognized and processed. Some of the paperwork that you may need is proof of counseling paperwork, proof of your debts, and all documents of real estate that you own, all bank accounts, and paperwork that proves your income. Your Chapter 7 bankruptcy attorneys will be able to help you gather all of the necessary paperwork needed for the suit along with providing you details on anything else needed.

Counseling Paperwork

As an individual filing for Chapter 7 bankruptcy, you and your spouse must attend credit counseling before being allowed to claim this type of bankruptcy. You must choose an organization, which is approved by the government, and receive the required certification claiming that you have completed all necessary coursework. You can use this certificate to hand in with your other paperwork to help the bankruptcy proceedings.

Debt Balance

Chapter 7 bankruptcy Colorado area attorney will be able to assist you in the collection of statements from each of your creditors to present to the courts. You should submit information on all debts within the past few months, even those that have been paid off in those times. It is important to show proof of all vehicles and credit cards so the court can access a full picture of your available credit.

Documents of Real Estate

You will also be required to present the court with all documents of real estate holdings in your name including any homes and land. The documents needed may reach back up to two years and if you have bought or sold any real estate during that time you will need to include the deed and information proving the value of the property when it was sold.

All Accounts

Your Colorado Chapter 7 bankruptcy attorneys will be able to determine which other accounts information with be needed for. Some examples of other accounts include retirement and educations accounts. If you have any educational savings accounts, student loans, or IRAs it is important to provide the court with this information along with your other paperwork.

Information About Income

Lastly, the court will need to be provided with proof of your current income to determine if you are eligible for bankruptcy. You must provide at least two years of your tax returns, both your state and your federal return, along with any information on life insurance and pay stubs throughout the whole process to ensure you meet the income requirements. If you have gone through a divorce within the past year the court will also require documents proving the judgment of the divorce and proof of how the property was divided.

If you are in need of chapter 7 bankruptcy Colorado s, contact the Law Offices of Christopher A. German, LLC. They can be reached at 303-617-8447.

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