Bankruptcy usually happens when a person is not able to repay the debts owed to the creditors. This is a stressful situation as such but can be easily managed by managing the right paperwork and by organizing your financial data. The most important document would be the credit information. You can get Equifax mon dossier on credit information online which will be helpful in knowing your current status and based on that your paying probability will be analyzed.
If you are not aware of a local attorney, then you can find an attorney an attorney in http://www.attorneys.com based on your zip code. Once an appointment is scheduled with any bankruptcy consultation company, you should be ready with a set of documentations. The documentation you provide will make the consultation company arrive at a conclusion of your current scenario. Without the needed documentation you cannot confirm whether to choose chapter 7 or chapter 13 in bankruptcy.
You should provide the documents relating to what you have said you are. Photo Id is a must be it driver license or passport. You should also verify the SSN so be sure you have them handy.
2.Income Proof and Other Documents
You should also provide statements of your monthly gross income from the sources you have for the past six months. The pay stubs and records of income should be brought for the past seven months. The records should contain income statements from employment, bonus, commission, tips, pension, interest and income from any other reliable source. No matter you file the case with or without a dependent spouse, then you should give both your information. If you are an entrepreneur running your own business, then you should see that you provide a month on month profit and loss statement for the business you run.
You should also bring with you the documents on stocks, mutual funds,401k and other assets you own. Compile the statements of your debts ranging from credit card to jewelry loans. If you have been hospitalized or undergoing any medical treatments, then you can bring in your medical bills with you.
Bank records are a vital document as it clearly lists your credits and debts which show a clear picture of your situation. You can also submit your credit union and other financial institution statements for the past two months.
Also if you have any court order it will determine the probability to pay to the creditors. Your financial records will be helpful in determining the best type of bankruptcy, which is suitable for you. For example your financial documents will prove that you have regular income, which means you are suitable for chapter 13 bankruptcy.
3.Income Tax Returns
Also bring your income tax returns paid for the past two years. If you have failed to pay these tax returns, then you should start with the payment process immediately as bankruptcy case cannot be filed until the tax returns are paid.
4. Household Expenses
You should also clearly know the mortgage, utility service, cable, home maintenance, laundry, recreation clubs, insurance and other monthly expenses you spend.