Chapter 7 Information

Chapter 7 is to give you a fresh start. Even though you do not want to put a house, automobile or timeshare into your Bankruptcy, you still need to give that information to your attorney. There are ways to protect those assets. If you want to keep them, just keep paying for the item on time, and the lender should not be able to take them away.

More information you give your attorney at the meeting, the easier it is for them to print out the petition correctly the first time.

If you do not own any property, and you rent, we will need the landlords address. You do not have to worry, they will not get information that you are going through bankruptcy, and the trustee just needs that information. If you have a timeshare, make sure you tell the attorney the information about the timeshare, (place where it is and how much you still owe and monthly payment). If you do not have an automobile, but you are a co-signer, we will still need the information on the automobile, we just put that you are a co-signer and the other party is making the payments. Make sure we have the address for the other party.

If you have more than 1 job, please make sure we have all information on all jobs. If you have a tenant, we need to know how much they pay a month, if you have a company, we will need a profit and loss statement per month for the last 6 months. All this is income. If you are married, we would need to have their most recent pay stub, or if you have someone living with you and they contribute income, we would need to know how much. With Schedule I and Schedule B22, we use the income for the Household. The other party should not worry; you are not putting them on the bankruptcy, just their income.

When it comes to government tickets, or loans, they are not dischargeable, meaning, you will have to pay them off.

Ask questions to your attorney; do not be afraid to ask the entire question that you might have.