What Are the Rules for Filling Bankruptcy?
To successfully file any type of personal bankruptcy, you must follow a number of pre-set federal rules, according to both the United States Bankruptcy Court and the book "How to File for Chapter 7 Bankruptcy."
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Credit Counseling
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You must complete pre-bankruptcy credit counseling to petition for Chapter 7 debt relief or Chapter 13 debt restructuring, warns the Federal Trade Commission.
Paperwork Requirements
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You must prove your income, assets, debts and identity by completing a number of federal bankruptcy forms, and submitting them to your local bankruptcy court clerk's office.
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Court Costs
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Bankruptcy court costs are passed to the consumer declaring bankruptcy; as of 2010 it cost $274 to declare Chapter 13 and $299 to file for Chapter 7.
Ineligible Debts
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Bankruptcy does not take care of financial problems related to child support, alimony, court fines, most tax debts, government-issued student loans and any debts arising from criminal acts, warns the book "How to File for Chapter 7 Bankruptcy."
Legal Representation
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You can choose to hire a lawyer to declare Chapter 7 or Chapter 13 but do not have to do so, notes the U.S. Bankruptcy Court.
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