This form is a disclosure of compensation of a bankruptcy petition preparer. The bankruptcy petition preparer declares that the information submitted is true and correct to the best of his/her knowledge.
Montana Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer - For 2005 Act
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How to fill out Disclosure Of Compensation Of Non-Attorney Bankruptcy Petition Preparer - For 2005 Act?
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FAQ
What Assets are NOT Exempt in Chapter 7? Additional home or residential property that is not your primary residence. Investments that are not part of your retirement accounts. An expensive vehicle(s) not covered by bankruptcy exemptions. High-priced collectibles. Luxury items. Expensive clothing and jewelry.
A petition preparer is a non-lawyer who helps bankruptcy debtors file their bankruptcy documents for a fee. Petition preparers may not give legal advice or represent debtors in court. Petition prepares can only help with typing paperwork and must charge a reasonable fee to do so.
What property is exempt under a Chapter 7 bankruptcy? In Montana, there is an exemption for $250,000 for equity in a homestead and $2,500 for equity in a motor vehicle. In addition, exempt property can include household furnishings, personal property, professional tools, and life insurance.
Exempted property in a bankruptcy can include the car you need to drive to work and to the store for food. It can include the tools you need to do your job. It can include the house in which you live, and the furniture and appliances and other household goods that make the house your home.
Key Takeaways. Types of debt that cannot be discharged in bankruptcy include alimony, child support, and certain unpaid taxes. Other types of debt that cannot be alleviated in bankruptcy include debts for willful and malicious injury to another person or property.
Make sure the preparer meets legal requirements. For example, don't use one that attempts to give you legal advice, uses the word ?legal? in their advertising or business name, doesn't use a contract for services, or asks you to give them the court filing fees.
A Bankruptcy petition is a collection of forms also known as schedules that disclose all of your financial information to the Bankruptcy Court. These forms will list all of your assets (real and personal property), monthly income and expenses and most importantly the liabilities and debts you wish to eliminate.
A bankruptcy petition can also be presented by either the debtor or, if the debtor has already made a voluntary arrangement to deal with the debt, by the supervisor of this arrangement.
Real Property - the Montana Homestead Exemption The Montana homestead exemption is particularly generous. It allows filers to exempt up to $250,000 in equity in their primary residence, provided that they file a homestead declaration before submitting a formal bankruptcy petition to the court.