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Requirements for Filing Bankruptcy

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    Statement of Assets

    • In any bankruptcy case, a debtor must fill out a statement of assets. This requires divulging any sources of income and ownership of property such as paid-for vehicles, interest in a house, jewelry, and other goods and banking accounts.

    Statement of Debts

    • All debts must be listed in a bankruptcy file, even those that may not be dischargeable, such as student loans or child support debt.

    Tax Returns

    • A debtor must provide copies of his tax returns, usually the last three years. These taxes rarely can be discharged or restructured in a bankruptcy case.

    Credit Counseling

    • Since 2005, all people filing any kind of consumer bankruptcy must attend an approved credit counseling session.

    Meeting of Creditors

    • Debtors filing bankruptcy are required to attend a 341 hearing, also known as a meeting of creditors, at their local federal bankruptcy courthouse. Except where fraud is suspected, creditors usually do not protest bankruptcy cases.

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