If you are filing a chapter 13 bankruptcy then you should provide them with the last 4 years of state and federal tax returns. If you have not filed tax returns for several years, then provide the trustee with the last filed federal and state tax return.
The Bankruptcy Process. The court will appoint a bankruptcy trustee, who will hold a creditors meeting between 21 and 40 days after filing. At the meeting, you will be put under oath and be asked questions by the trustee and creditors. If filing Chapter 13, the trustee will guide the formation of a repayment plan.
Chapter 7 bankruptcy has a filing fee of $335, but if you can show that your income is below a certain threshold, you may be able to waive the filing fee and file for free. If you file a Chapter 13, you cannot waive the filing fee, but you might be able to pay it in installments.
Filing personal bankruptcy under Chapter 7 or Chapter 13 takes careful preparation and understanding of legal issues. Misunderstandings of the law or making mistakes in the process can affect your rights. Court employees and bankruptcy judges are prohibited by law from offering legal advice.
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· Chapter 7 bankruptcy is often called liquidation bankruptcy because you will likely need to sell off some of your assets to satisfy at least a portion of what you owe. That said, state laws determine that some assets, such as your retirement accounts, house and car, are exempt from liquidation.
Make sure you need to file for bankruptcy. Read Bankruptcy. You might decide not to file, or Chapter 7 bankruptcy may not be the type of bankruptcy for you.
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Now, Nancy Khan’s legal filing also freezes those assets without “a mutual. been caught up in this extremely unfortunate.
The plus-size women’s apparel retailer filed for Chapter 11 bankruptcy protection as it looks to transform. In a statement.
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· Once you’ve decided that bankruptcy is the right solution for your financial situation, you will need to decide which type of bankruptcy is most beneficial. If you are an individual or a small business owner, then your most obvious choices are Chapter 7 "liquidation" bankruptcy or Chapter 13 "wage earners" or "reorganization" bankruptcy.