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What information do you need to file for bankruptcy?

On Behalf of | Jan 13, 2020 | Bankruptcy

Before you prepare to file for bankruptcy in Texas, having an understanding of the information you will need to present and verifying that you are not missing any documentation may help to expedite your case. Because bankruptcy is taken seriously, your commitment to being prepared can give you added confidence and aid in moving the process along without any major setbacks. 

Even though there are various kinds of bankruptcies, each with unique traits, the information you will be required to include in your petition will be relatively the same. Depending on your situation and the reason you are filing for bankruptcy, you may be required to include additional documentation as evidence to support your request. 

According to the United States Courts, you will be required to disclose your income including where it comes from, how often you receive it and in what amounts the payments come. Likewise, your expenditures will also need to be detailed in full. These can include things like your home mortgage, any vehicle payments, transportation costs, money spent on basic necessities and even medical payments for prescriptions or required treatments. You will need to list all of your property, even if it is paid off. Lastly, you will need to include a complete breakdown of each of your creditors, how much you owe each one and the claims each is making against you. 

If you are married and filing jointly with your spouse, you will still be required to include the above information for both you and your spouse individually.