August 4, 2009
Requirements for a Chapter 7 Bankruptcy
Filing a Chapter 7 Bankruptcy requires that you file a petition with the bankruptcy court in the area where you live or where your business is organized or has its principal assets or place of business. Along with the petition, you must file a schedule of your assets and liabilities, a schedule of your current income and expenditures, a statement of financial affairs and a schedule of executory contracts and unexpired leases. In addition, you must file a tax return or transcripts for the most recent tax year and tax returns filed during the case. If you are filing as an individual debtor, you must also file other documents including a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling.