Once you have decided to file for Chapter 7 bankruptcy protection, there are several different pleadings that must be prepared and filed with the court. The law requires all bankruptcy debtors to make full financial disclosures. In other words, you are required to list all of your property, debts, income and expenses. One of your bankruptcy attorneys will assist you with creating all of the necessary paperwork, but it is important that you provide us with all of your financial records. Below is a summary of the initial pleadings that we will file in your Chapter 7 case:
- the bankruptcy petition
- a list of everything you own
- a list of all you owe (debts)
- a list of everyone you owe money to (called the “creditor matrix”)
- a list of your current income and expenses
- a statement of your financial affairs
- a certificate from your lawyer demonstrating that (i) you were given a notice explaining the different bankruptcy chapters, (ii) a notice describing the services provided by the credit counseling agencies, and (ii) a statement clarifying that any debtor who intentionally or fraudulently conceals property or makes a false statement under oath is subject to fine, imprisonment, or both.
The above initial filings are commonly referred to together as your “Schedules and Statement of Financial Affairs.” Once all of your pleadings have been prepared, you will be asked to review them closely and confirm that they are accurate. The trustee will likely ask if you have reviewed all of your pleadings and whether they are true and correct at your meeting of creditors. If you should discover an error, it is imperative that you let your lawyer know immediately so it can be corrected. You file your bankruptcy pleadings with the court under the penalty of perjury, so you want to make sure it is done correctly.
If you are interested in learning more about how a bankruptcy filing will impact your debt, contact Faro Crowder, PA to schedule an appointment.