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Documents to gather before filing for bankruptcy

Filing for bankruptcy can be just what a Tennessean needs to clean their financial slate, and try again. But, filing for bankruptcy is not something to do on a whim. Once a person has done their homework and decided that filing for Chapter 7 or Chapter 13 bankruptcy is the right choice, they will then have to gather up an array of documents. Just which documents will be needed depends on the person. To get an idea of what documents will be important, keep reading.

In general, Tennesseans should assemble three kinds of documents before filing: financial records, legal records and other documents. Financial records include what a person would expect -- receipts, recent bank statements, recent bills from all creditors, bills and invoices from the previous year, paperwork for any recent car or land purchase and so on. Basically, provide any document that provides a window into your financial situation.

Legal records include any documents filed in current or recent litigation. Recent litigation includes any litigation that has been concluded, but has an outstanding judgment, either for or against you. Legal records also include divorce decrees, alimony judgments and child-support orders.

In addition to financial and legal records, Tennesseans should also provide any other documents that shed light on their assets or verify their income. Some common examples include leases, mortgages, promissory notes, vehicle titles, insurance policies, tax returns for the past three years, canceled checks for any expense that is hard to document and all correspondence with or about creditors -- especially any letters containing threats.

Source: FindLaw.com, "Checklist: Documents To Show To Your Bankruptcy Attorney," accessed on April 19, 2016

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
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