Filing for bankruptcy can be an intense and emotionally draining experience. To make it less overwhelming, it is best to go in prepared. Like any legal proceeding, bankruptcy requires you to gather and file a set of standard paperwork. While the exact documents vary depending on your individual circumstances, the following outlines the core requirements for filing in New York State.
Pre-Filing Courses of Action
Before you even file for bankruptcy, you must complete certain steps that are crucial in the process. In hopes of preventing future financial woes, debtors are typically required to obtain a Credit Counseling Certificate at least 180 days before filing. The certificate serves as proof that you completed a financial education course, and is generally needed for filing, so that you fully understand your options throughout the process, such as budgeting and debt management.
Core Bankruptcy Filing Forms
In order to start your case, whether you are filing under Chapter 7 or Chapter 13, there will be specific forms required for the bankruptcy petition in New York State. Typically, you will need a Voluntary Petition for Bankruptcy (Official Form 101). This formally initiates the legal process under a specific chapter of the Bankruptcy Code and outlines your basic financial information. You will also need a list of your creditors, detailed with all of the people and companies you owe money to, along with their addresses.
Some of the required forms need to be submitted within a specific time frame. In New York state, the following are usually expected within the first two weeks of filing the petition:
- A schedule of your current income and expenses.
- A schedule of your assets and liabilities.
- A detailed financial history
- A schedule of executory contracts and unexpired leases.
Common Supporting Financial Documents
In addition to the official bankruptcy forms above, the court and trustees will usually request supporting documents that verify your financial information. These documents generally consist of:
- Income Records (usually at least 60 days’ worth of pay stubs and other proof of income)
- Recent Bank Account Statements
- Federal and State Tax Returns (over the last couple of years)
- Vehicle Titles and Loan Statements
- Photo ID and Social Security Number Documentation
Some trustees may require additional documents, and you should always check in with them before significant dates in your case.
There is generally a filing fee required to process your case. In New York State, Chapter 7 will be around $338, and $313 for Chapter 13.
Our Team Is Here To Help
We know that filing for bankruptcy can be an intimidating process. However, it doesn’t have to be nearly as overwhelming thanks to our team members at Todd Cushner & Associates. Contact us at (914) 600-5502 to schedule a free consultation today.
