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The Documents We Need From You To File Your Bankruptcy Case

One of the most intimidating things about the bankruptcy process is the dread most clients feel about having to make order and sense out of their financial records. Many people considering bankruptcy have already experienced enough financial stress and upheaval that gathering their records together feels like an impossible task.
Effective January 1 of this year, the list of documents that everyone filing a Chapter 7 bankruptcy petition must produce has been made uniform in the Eastern District of North Carolina (which includes Raleigh, Wake County, and the rest of the State eastward to the coast). All debtors have to either provide their attorney with, or explain the lack of:

Tax Returns: Your last two State and Federal income tax returns and those for any corporation, limited liability corporation, or partnership in which you own a 20% or greater ownership interest

Bank Statements: Statements from all bank accounts on which your name appears as an owner that exist or were in existence the 90 days prior to the date we file your case, and the first bank statement received after filing.

Transfers: All documents showing transfers of property in the 4 years prior to the date we file your case (excluding trade-ins on vehicles); most commonly, this relates to purchases and sales of real estate.

Real Property: All deeds, promissory notes, deeds of trust or mortgages, judgments, other liens, and county tax records for each parcel of real estate you own; and the most recent mortgage statements showing the balances owing on all deeds of trust or mortgages against the real estate.

Securities/Insurance: The most recent statements of any stock, investment, or other financial, brokerage or similar accounts; stock or bond certificates you hold yourself; declaration pages for each whole life insurance policy you own and the identity of the beneficiaries on each policy.

Motor Vehicles and Boats: Copies of: titles (if no lien) to all vehicles and boats you own; all loan and lien documents; the last loan balance statement prior to filing; documentation of the value of all vehicles and boats if the value is based on anything other than the NADA value.

Related Entities: Current balance sheet and income statement for any entity in which you own a greater than 20% ownership interest, including any corporation, limited liability corporation, or partnership.

Other: Copies of: all documents evidencing any equitable distribution, property division, alimony, separation, or divorce agreements, settlements or orders; all documents evidencing unusual assets (e.g., personal injury claims, rights to any bequest or inheritance); and business property tax listings for any business property owned by the Debtor(s).

Fear of the bankruptcy process and your ability to navigate your way through it should not deter you if it is truly your best option for a fresh start and a better financial future. We can help you comply with these new document production requirements as part of representing you in your case. Call our firm for a free consultation, or go to www.defendmyrightsnow.com/bankruptcy to learn more.

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