New York Northern District Bankruptcy Guide and Forms Package for Chapters 7 or 13

B 101 Voluntary Petition for Individuals Filing for Bankruptcy. B 101A Initial Statement About an Eviction Judgment Against You (only if you have eviction judgment against you)

Identifying Information. The Voluntary Petition for Individuals Filing for Bankruptcy form acts as the cover sheet for your paperwork. Your Property. Your Exempt Property. Your Collateralized Debt. Your Other Debt. Your Contracts and Leases. Your Codebtors. Your Income.

For many debtors, Chapter 7 bankruptcy is a better option than Chapter 13 bankruptcy.For instance, Chapter 7 is quicker, many filers can keep all or most of their property, and filers don't pay creditors through a three- to five-year Chapter 13 repayment plan.

Six months of paycheck stubs. six months of bank statements. tax returns (the last two years) current investment and retirement statements. current mortgage and car loan statements. home and car valuations (printouts from online sources work)

There is no threshold amount that you need to reach to file a bankruptcy. Some chapters of bankruptcy have debt limits, but there is no such thing as a debt minimum. That being said, you certainly can and should evaluate if filing a bankruptcy makes sense in your current situation.

Chapter 7 bankruptcy is designed to relieve you of unsecured debts, such as medical expenses. There is no rule that requires you to use a lawyer to file a petition. You can do the filing yourself, which is called pro se, but we recommend that you do your research first.

Stop making payments on debts that will get wiped out in bankruptcy and pay your attorney instead. borrow the fees from a friend, family member, or even your employer. retain a bankruptcy lawyer who will handle creditor calls while you pay fees over time. file on your own.

Advise you on whether to file a bankruptcy petition. Advise you under which chapter to file. Advise you on whether your debts can be discharged. Advise you on whether or not you will be able to keep your home, car, or other property after you file. Advise you of the tax consequences of filing.

With Chapter 7, those types of debts are wiped out with your filing's court approval, which can take a few months. Under Chapter 13, you need to continue making payments on those balances throughout your court-instructed repayment plan; afterwards, the unsecured debts may be discharged.