How to File Chapter 13 Bankruptcy in Maine
Filing for Chapter 13 bankruptcy is most advantageous for Maine residents who have a steady income and the ability to pay off some of their debts. The Chapter 13 trustee determines approval for the repayment plan based on claims submitted by creditors and documents submitted by the debtor verifying his financial situation. Hiring an experienced Maine bankruptcy attorney during this process can be beneficial since the rules and procedures associated with a Chapter 13 bankruptcy can be quite complicated.
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Instructions
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Get documents needed to file the bankruptcy case. Retrieve bank statements for checking, savings, retirement and pension accounts. Acquire pay stubs for the past six months from employers. Obtain the past six months of profit and loss statements if self-employed. Find paperwork verifying any other sources of income. Contact the IRS at 800-908-9946 to get transcripts of tax returns for at least the past two years. Collect bill statements from all creditors and get a copy of your credit report.
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Complete credit counseling. Take credit counseling within six months before filing for bankruptcy. Maine's bankruptcy court website provides a list of credit counseling agencies available to Maine residents. Credit counseling provides the debtor with an opportunity to analyze a budget based on their current income and expenses. It also provides information regarding how to handle debts. Different agencies allow debtors to take credit counseling in person at their location, online or over the phone. Fees vary depending on the agency used.
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Fill out the Chapter 13 bankruptcy petition. Download the petition on the Maine bankruptcy court website or on the U.S. Courts website. List the names and addresses of all creditors in the schedules. Review the credit report and the bill statements to ensure the accuracy of the creditor information written in the bankruptcy petition. Claim applicable state or federal exemptions for assets. Reference pay stubs, profit and loss statements and documents from all other sources of income to accurately state your average income from the past six months. Sign and date the petition once it is completed.
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Complete the Chapter 13 plan. Create a preliminary repayment plan for outstanding debts. List the monthly payments of secured debts for property being kept during the bankruptcy. State the description of any properties that will be surrendered to creditors in the bankruptcy. Domestic support obligations such as child support and alimony should also be included in the payment plan.
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File the paperwork at the appropriate Maine bankruptcy court location. Maine has four bankruptcy court locations throughout the state. Maine's bankruptcy court website states where the case should be filed based on the county of residence. Pay the $274 Chapter 13 filing fee to the court clerk. Request to pay the filing fee in installments by submitting an Application to Pay Filing Fee in Installments. Make arrangements to pay off the filing fee within 120 days after filing the case if payments are issued in installments.
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References
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