CHAPTER 7 PETITION CHECKLIST
Checklist For Preparation Of Chapter 7 Petition
In order to prepare a Chapter 7 Petition, we will need information about all of your property and your debts. Please begin collecting the following information, and bring as much as possible to your first appointment.
1. LIST OF ALL DEBTS, including creditors names, addresses, account numbers and amount owed.
This list should include all debts, including mortgage, home equity and personal loans, credit card debts, back taxes, personal service debts (e.g, doctors, lawyers, accountants), student loans, judgments, alimony or child support arrears. If any collection agencies are involved in collecting these debts, please include their name and addresses and any account numbers in their collection efforts.
IT IS RECOMMENDED THAT YOU OBTAIN A COPY OF YOUR CREDIT REPORT TO MAKE SURE THAT YOU HAVE NOT LEFT OFF ANY DEBTS. YOU CAN OBTAIN ONE FREE OF CHARGE ON LINE FROM EQUIFAX, EXPERIAN OR TRANSWESTERN. EQUIFAX CAN BE REACHED BY PHONE BY CALLING 800-685-1111.
2. RE: HOME MORTGAGE/HOME EQUITY
(a) Name of Bank, address, account number, monthly payment and current payoff amount;
(b) Fair Market Value of house;
(c) Assessed Value (from real estate taxes) or recent Appraised Value.
If you have sold any real estate in the last 2 years please collect information regarding the sale price and what you did with any sale proceeds (bring the HUD-1 settlement statement from your closing documents if possible. If any mortgage loan has been forgiven, or if you have given a deed in lieu of foreclosure, please bring relevant documents.
3. RE: CAR LOANS/LEASES
(a) Name of Bank, address, account number, monthly payment and current payoff amount;
(b) Fair market value – from NADA Blue Book.
4. RE: BACK TAXES
(a) Break out amount of taxes owed for each year;
(b) List date tax return was filed for each year;
(c) State nature of tax (e.g., Federal income, State income or sales tax).
5. TAX RETURNS FOR PRIOR TWO CALENDAR YEARS
6. RECENT PAY STUB FOR CURRENT YEAR FOR EACH DEBTOR AND LIST OF INCOME FOR LAST SIX (6) MONTHS.
Include all income: salary, business income, tax refunds, etc.
7. LIST OF BANK & FINANCIAL ACCOUNTS
Including Bank name, address, account number and balance (include accounts closed in past year).
8. LAWSUITS/JUDGMENTS/LIENS/FORECLOSURES/REPOSSESSIONS
List case name, court, case number, current status amount of judgment, date of foreclosure, etc.
9. INFORMATION ON OTHER PROPERTY OWNED
∙ Pension/401K/IRA Accounts – name, address, account number, amount;
∙ Life Insurance – name, address, policy number, amount;
∙ Other Real Property – describe, current value;
∙ Trusts – describe;
∙ Vehicles/Campers/Boats – describe, current fair market value;
∙ Annuities/Stock/Bonds
10. LIST OF PERSONAL PROPERTY
Such as cars (year/model/mileage), tools, jewelry, household goods, antiques, art. (not necessary to itemize all home furnishings)
11. CHILD SUPPORT/ALIMONY PAYMENTS
12. SOCIAL SECURITY DISABILITY PAYMENT
13. MONTHLY BUDGET
(i.e., food, clothing, laundry, medical/dental, utilities, insurance, recreation, etc.).
NAME, ADDRESS OF CO-DEBTORS
(e.g., co-signers of any loans).
DIVORCE/SEPARATION
∙ Copy of Separation Agreement
∙ Amount of monthly payments
∙ Copy of judgment
∙ List of assets transferred