What Documents Does Your Bankruptcy Lawyer in Fulton Need?

documents for filing bankruptcy in fultonLaws that govern bankruptcy changed dramatically over the past years to where you must now provide a significant amount of documentation to support the petition. Therefore, you need to hire a Fulton bankruptcy attorney who ensures things are done according to law. As part of this, the attorney reviews documents prior to filing in order to identify potential issues.

First Steps

Initially, your bankruptcy lawyer in Fulton only needs a copy of:

  • your social security card
  • driver’s license
  • W2 tax form

After filing bankruptcy, you must provide additional documentation, such as IRS and state tax returns to show a history of income, specifically money received in refunds, so your attorney can verify the size of the household as well as confirm that you are not withholding information about other business interests or assets.

Failing to provide your Fulton bankruptcy attorney with tax documentation allows the court to deny the petition. Because of new laws, the Internal Revenue Service mandates proof of taxes filed. Your lawyer needs pay stubs and other documentation to support additional income to determine whether you qualify for a Chapter 7 bankruptcy. Unless you provide paystubs for at least two months, the court may dismiss your case.

To include debt in the bankruptcy, you must give your attorney copies of outstanding bills pursued by creditors and collection agencies. In addition, the attorney needs proof of outstanding balances on credit cards, as well as documentation on assets, including automobiles and homes.

Additional Required Documentation by the Trustee & Your Fulton Bankruptcy Attorney

  • Spending of Tax Refund – The trustees determines if you used the money to pay off debt or squandered it on luxury items, gambling, lavish trips, and so on. For this, you need to provide proof in the form of bank statements or receipts.
  • Automobile Titles/Proof of Ownership – Your bankruptcy lawyer verifies ownership and the correct listing of a secured creditor that allows the lawyer to protect vehicles owned. In addition, the attorney verifies the NADA or Kelly Blue Book value, current mileage, and any special features that increase value.
  • Home Deed/Mortgage – Your bankruptcy attorney also requires recorded deed/mortgage documentation on your home. To obtain a recorded copy, you can visit the county clerk’s office. If the fee is too high, your attorney will pay it. To protect as much equity in the home possible, the trustee verifies the value prior to the attorney filing the bankruptcy petition.
  • Divorce Papers – Your Fulton bankruptcy lawyer wants to make sure your ex-spouse never cosigned on a loan. If such a loan exists, the trustee considers the debt as support that cannot be discharged.
  • Bank Statements – The trustee wants to see if the court has interest in bank funds or if you transferred large sums of money.
  • Retirement Documents – The trustee reviews documents to determine if funds in the account are protected under new bankruptcy law.
  • Proof of Auto and Home Insurance Creditors have the right to see proof of insurance. If you fail to provide your bankruptcy attorney this information, your home may go into foreclosure and your vehicle may be repossessed.

As you can see, filing for bankruptcy is complex, which is why hiring an experienced and reputable Fulton bankruptcy attorney is critical. The attorney works on your behalf to help you get out of debt while retaining as many assets possible.

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