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Bankruptcy Lawyer

What are the Debtor's Duties in Filing for Bankruptcy?

What are the Debtor's Duties in Filing for Bankruptcy?Filing for personal bankruptcy may feel a little like an obstacle course. Getting to the point of deciding to file is stressful enough as it is without trying to figure out what your own responsibilities are. The law is clear on the debtor’s duties, but the guidance of our seasoned Los Angeles bankruptcy lawyer can ensure you have completed all your requirements so that your debts are discharged successfully.

1.    You must take an approved credit-counseling course. This must occur in the 180 days before you filed for bankruptcy, and you must obtain a certificate of credit counseling.

2.    You must completely and accurately disclose all your debts and assets in your statement of financial affairs. An error, omission, or false statement can lead to the dismissal of your case or even bankruptcy fraud charges.

3.    You must file a statement of net income and provide proof of payment received in the 60 days prior to filing.

4.    You must provide a copy of your tax return if requested.

5.    You must make a statement of intention that you will reaffirm debts or surrender or redeem any personal property and then perform such intentions.

6.    You must cooperate fully with the bankruptcy trustee and appear at the 341 meeting.

7.    If filing for a chapter 13 bankruptcy, you must also file your repayment plan.

8.    In a 13, or reorganization, plan, you must also file an annual statement outlining your income and expenses for the previous year.

Filing for bankruptcy is a complex procedure and may be intimidating, but it does not have to be with a seasoned bankruptcy attorney on your side. Our bankruptcy attorney in California can give you the confidence that you will be fully informed of all your responsibilities and the date they must be completed. Whether you are filing for chapter 7 bankruptcy or chapter 13 personal or business bankruptcy, you will still be able to save some of your own personal property through bankruptcy exemptions.

Source: Los Angeles Bankruptcy Lawyer

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