What Is Required to File Bankruptcy?

Before you can successfully file any kind of personal bankruptcy, there are several legal requirements that must be met. Because both Chapter 7 and Chapter 13 bankruptcy cases are supervised by the federal government, there is a fairly standard set of documents and data that must be provided for a debtor to proceed with this debt relief.

Chapter 7 Bankruptcy

Anyone pursuing forgiveness of most of his debts through Chapter 7 bankruptcy must pass a federal means test (see Resources) to be allowed to file his case.

Credit Counseling

Completing a federally approved credit counseling session (see Resources) is required to file either Chapter 7 or Chapter 13 debt restructuring bankruptcy.

Tax Returns

Copies of the debtor's last three tax returns are required to file a bankruptcy petition. If taxes were not filed on time, they must be filed before submitting bankruptcy paperwork.

Assets

A list of assets must be provided to the court to declare any kind of consumer bankruptcy, including savings accounts, stocks and home equity.

Debts

A thorough accounting of all debts must be submitted when petitioning the federal court for debt relief through bankruptcy.

Resources

• U.S. Trustee - Means Testing
• U.S. Trustee - Credit Counseling