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Bankruptcy Law Practice in Denver and the following areas
You must provide a complete disclosure of your financial situation, generally through the attorney’s bankruptcy questionnaire. The attorney will draft the filing documents, which are (1) a petition, schedules of assets and liabilities; (2) a schedule of current income and expenditures; a schedule of executory contracts and unexpired leases; and a statement of financial affairs, and certain other forms which the court requires to be filed.
A chapter 13 case begins by filing the petition and supporting documents with the bankruptcy court serving the area where the debtor has a domicile or residence.
The debtor must also file a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling; evidence of pay from employers, if any, received 60 days before filing; a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts. 11 U.S.C. § 521. The debtor must provide the chapter 13 case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case (including tax returns for prior years that had not been filed when the case began). A husband and wife may file a joint petition or individual petitions.
Between 20 and 50 days after the debtor files the chapter 13 petition, the chapter 13 trustee will hold a meeting of creditors. During this meeting, the trustee places the debtor under oath, and both the trustee, and creditors, may ask questions. The debtor must attend the meeting and answer questions regarding the documents filed with the court, his or her financial affairs and the proposed terms of the plan.11 U.S.C. § 343. If a husband and wife file a joint petition, they both must attend the creditors' meeting and answer questions. Bankruptcy judges are prohibited from attending the creditors' meeting. 11 U.S.C. § 341(c). The parties typically resolve problems with the plan either during or shortly after the creditors' meeting. Generally, the debtor can avoid problems by making sure that the petition and plan are complete and accurate, and by consulting with the trustee prior to the meeting.
The courts must charge a $281 case filing fee. Normally the fees must be paid to the clerk of the court upon filing.
This information pertains to Chapter 13 and Chapter 7 consumer bankruptcy. Each state has bankruptcy laws which apply only in that state. The information contained in the preceding is provided for general information purposes and is not a substitute for a legal consultation and it is not intended as legal advice. Every individual's debt and financial situation is different and you should seek independent legal advice regarding you specific situation.
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