How to File for Bankruptcy in Vermont
For some people overwhelmed with debt, the only option is to file bankruptcy. Bankruptcy allows you to eliminate debt in a Chapter 7 case or restructure debt in a Chapter 13 case so you can get your finances back on track. The Vermont bankruptcy court is under federal jurisdiction but there are some regulations which are specific to Vermont bankruptcy proceedings. You will have to be knowledgeable in federal and local bankruptcy rules to file successfully.
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Instructions
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Get a certificate from a Vermont bankruptcy court-approved course provider within 180 days of filing for bankruptcy. To find a list of courses, go to the Vermont Bankruptcy court website (www.vtb.uscourts.gov) and click on "Credit Counseling and Debtor Education."
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Gather all financial documentation pertaining to your bankruptcy. Compile a list of all debt holders, including original creditors and debt collectors. Include income information such as pay stubs and documentation of investments or social program payments. List your assets and provide proper documentation for them. List your monthly expenses and, if possible, include receipts or statements.
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Obtain the bankruptcy petition from your lawyer or from the court website. Complete the means test which will determine if you have to file Chapter 13 because your income is above the Vermont median of $40,876 as of October 2009 or if you have to file Chapter 7 because your income is below the median.
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Fill out the remaining petition worksheets and be sure to include all debts, assets, expenses and sources of income. File the petition and your credit counseling certificate with the court clerk and pay what is, as of September 2010, a $299 fee to file Chapter 7 or a $274 fee to file Chapter 13. Pay by cash or money order if you do not have legal representation; the Vermont bankruptcy court does not allow pro se debtor to pay by other means. Pay by cash, money order, attorney check or a cashiers check if you do have a lawyer.
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Create a plan to pay back as much debt as possible if you are filing Chapter 13 bankruptcy. To complete the filing process in Vermont, file the plan with the court for approval. Do not make a payment plan for Chapter 7 bankruptcy cases.
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