CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Bankruptcy Overwhelm: Why Organizing Your Paperwork is So Important

PaperworkPaperwork and Filing for Bankruptcy in Florida

Filing for bankruptcy sounds simple enough, but it’s actually a complicated legal proceeding that requires a great deal of organization. Unfortunately, if you fail to submit a document or you make a mistake on anything the court requires, it can result in the dismissal of your case.

Not only is it important to work with an experienced bankruptcy professional when filing, but you should also make organization a high priority. Any effort you put into organizing now will pay off in the long run as your case progresses.

The federal bankruptcy court requires 100 percent full disclosure of all of your assets, debts, and income. This means you’ll need to be completely transparent and have solid proof to back up any claims you make about your financial situation. What this proof entails varies from situation to situation, but you can assume that anything listed on your bankruptcy petition will need a corresponding document proving it to be true.

What are some of the most common bankruptcy documents you’ll need to include with your bankruptcy petition?

Bankruptcy Questionnaire

The questionnaire is the main part of your bankruptcy application. It’s where you’ll answer questions about your assets, your debts, and your income. There will be specific questions about your assets and debts, as well as inquiries into the financial transactions you’ve made within the last two to five years.

Your attorney will review this information and use it as a starting point for managing your bankruptcy.

Credit Reports and Bankruptcy

You’ll also be including your credit report with your bankruptcy petition and early on in the process your bankruptcy attorney will pull your credit report or you can request copies of your report before scheduling a consultation.

Viewing your credit report ensures all of your debts are included in your bankruptcy and allows you to dispute any debts that are listed that might be on your report in error. Ideally, you and your attorney will review your credit reports from all three of the major credit bureaus because it’s possible for there to be different information on each report.

For more information on reviewing your credit report, check out this information from Experian.

Proof of Income and Bankruptcy

Anyone who files for bankruptcy must show proof of income, provided they have an income. Keep in mind income might be more than just a paycheck.

The court will want to see proof of income for at least six months prior to your bankruptcy filing date.  If you are currently unemployed and have no income, but you were employed within the last six months, you’ll still need to provide pay stubs.

Business bankruptcy will require showing profit and loss statements or other tax documents as proof of income.

It is likely you’ll be asked for other information, including tax returns, bank statements, property titles, or mortgage statements.

Keep in mind that failing to provide any of these documents, intentionally or by accident, can result in the dismissal of your bankruptcy case. If you are planning to leave out a document or to hide an asset or money, you’re making a mistake that can not only get your case dismissed but also get you into legal trouble for fraud.

The sooner you begin organizing your finances the better the process of filing for bankruptcy will be.

For more information or to speak to someone about beginning the bankruptcy process, contact the Law Office of Robert M. Geller at (813) 254-5696.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Have You Received a Letter from the IRS About a Tax Debt? Here’s What You Should Know Before Responding

Here's what you need to know if the IRS has contacted you about tax debt. Every year the IRS contacts...
Read More

Here’s How You Can Rebuild Your Credit

How do you repair this damage and rebuild your credit after filing for bankruptcy? Many people believe that filing for...
Read More

How Can You Practice Smart Credit Card Management after Bankruptcy?

How can you learn better credit card management after bankruptcy? Using credit after bankruptcy is an intimidating experience for many...
Read More

How Do You Improve Your Credit Score?

How do you improve your credit score? Here's what you need to know. Your credit score plays an important role...
Read More

Does Bankruptcy Credit Counseling Work?

Bankruptcy credit counseling helps you emerge from bankruptcy understanding credit management. People filing for bankruptcy must take two courses regarding...
Read More

5 Things That Boost Your Credit Score

Your credit score has a major impact on your financial life. You can be a great person with a bad...
Read More

How to Correct Errors on Your Credit Report after Bankruptcy

How do you deal with errors on your credit report after bankruptcy? In a perfect world, you could ignore your...
Read More

Tips for Rebuilding Your Credit after Bankruptcy

One of the primary goals after filing for bankruptcy is rebuilding your credit. As tempting as it might be to...
Read More

I’m Starting a New Life and I want a Financial Fresh Start – Should I File for Bankruptcy Now or Wait?

As the say goes, “when it rains it pours.” If you’ve found yourself experiencing financial difficulties while also dealing with...
Read More

What Does It Mean to Get a “Financial Fresh Start” in Bankruptcy?

Financial Fresh Start You’ve probably heard it before. “Bankruptcy gives you a financial fresh start.” It’s something stated on this...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions