Documents You Need Before Filing for Bankruptcy

What Documents Do You Need to File For Bankruptcy?

Bankruptcy isn’t the most fun process in the world and document collecting is even more stressful. However, the preparation of documents is a mandatory process, and knowing which documents to prepare for the trustee will make your bankruptcy case much easier.

The documentation you need is generally the same for both chapter 7 and chapter 13 bankruptcies. First, you’ll need your tax returns and your W2s from the previous two years.

You’ll also need to show your income which means copies of your pay stubs from the six months prior to the bankruptcy filing along with any additional income sources like rent collected, disability and social security.

For the self-employed individuals, they will need to need to prepare a profit and loss statement, both year-to-date and for the two whole years prior to the filing of bankruptcy. Business bank accounts may be needed to prove this.

Real estate owners will have to provide the fair market value of their property as well as mortgage statements and depending on your trustee maybe even the mortgage or deed of trust and home insurance.

For vehicles, a legitimate proof of value and, if applicable, a recent car loan statement should suffice. However, the trustee may also request copies of car registration and insurance.

Finally, statements of personal bank and retirement accounts, along with documentation of financial obligations such as alimony or child support will be required.

Always remember to carry your photo ID and proof of social security to any hearing.

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