Filing for bankruptcy is often a document-intensive process. In addition to standardized forms that indicate under which chapter of the federal Bankruptcy Code you will file, you will also need to gather and organize a significant amount of information about your financial history, assets, and current income and expenses.

While you can technically collect and fill out all the documents needed to file for bankruptcy in Salt Lake City by yourself, you would likely benefit from professional assistance. A qualified bankruptcy attorney can ensure that all of your documentation is in order and help you avoid mistakes and omissions that could severely slow down the filing process or prevent you from discharging certain debts. Unrepresented or “pro se” debtors often pay more during the bankruptcy process than debtors represented by an experienced lawyer. A lawyer familiar with bankruptcy can help maximize exemptions and negotiate better outcomes with the trustee assigned to the case.

Documentation to Gather Before Filing for Bankruptcy in Salt Lake City

The first thing a debtor should do before starting the bankruptcy process is to analyze their files and compile as much information as possible about their debts and their previous efforts to pay them off. They should make a comprehensive list of their creditors and include a current mailing address for each of them. Without this list, a court cannot notify those creditors that bankruptcy proceedings have started, and collection efforts may persist after the automatic stay goes into effect.

Additional documents needed to file for bankruptcy in Salt Lake City include:

  • The previous three years of federal and state income tax returns
  • Six or more months’ worth of pay stubs
  • Bank statement(s) detailing day-to-day and week-to-week expenses
  • Bills and collection notices from creditors

Blue Bee Bankruptcy Law makes this process easy by obtaining the debtor’s tri-merged credit report and their 3-year tax transcript from the I.R.S. and State of Utah.

Individuals filing for bankruptcy in the state also need to present confirmation that they have taken credit counseling classes within 180 days of the date they plan to file for bankruptcy. Blue Bee Bankruptcy will enroll the debtor in the proper online course.

Filling Out the Right Bankruptcy Form

The federal form that officially “starts” a Chapter 7 or Chapter 13 bankruptcy is Form B 101, Voluntary Petition for Individuals Filing for Bankruptcy. In addition to basic personal information, this form indicates under which chapter a debtor wishes to file, which of their debts are consumer debts, and which of their assets are exempt.

Form B 106 is also an essential document needed to file for bankruptcy in Salt Lake City. There are several components, or “schedules,” to this form, each of which focuses on a different aspect of a bankruptcy case like exempt property, secured or unsecured claims by creditors, income and expenses, and co-debtors. Form B 113 is necessary for individuals filing for Chapter 13 bankruptcy, as this document helps establish a repayment plan for certain debts.

Depending on the circumstances, a debtor may need to fill out numerous additional federal forms and certain state-level forms, to provide further information about their income and debts or if they want to take advantage of fee waivers and other exemptions. Legal counsel in the area can provide critical help sorting through the various forms and determining which ones an individual debtor needs to complete and submit.

A Salt Lake City Attorney Could Help Collect and File Bankruptcy Documents

If you want to pursue your bankruptcy’s best possible outcome, retaining a skilled lawyer can make a significant difference. Having a qualified professional ensure that all of your documentation is complete could streamline the filing process and give you valuable peace of mind. Call today to schedule a consultation and learn more about the documents needed to file bankruptcy in Salt Lake City.

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