Federal law requires you to complete a counseling session with a certified professional before you file for bankruptcy. Credit counselors can review your finances and recommend possible strategies for getting out of debt. You must complete a financial management course after filing bankruptcy and before you may receive a discharge of your dischargeable debts.

Your bankruptcy attorney can help assess your options and submit the petition in court. The bankruptcy petition contains several forms and documents. You must provide information about your income and monthly expenses, including rent, utilities, food, clothing, taxes and prescription medications. Be prepared to submit the following records.

  • Statements showing your finances
  • A list of all creditors, including the type of debt and the amount due
  • A summary of all property and assets that you own
  • Proof of your income from the last 60 days
  • Information regarding anticipated changes in your earnings
  • Records of holdings in educational savings accounts
  • Copies of recent income tax returns
  • A detailed list of your financial liabilities
  • Copies of current leases and loan contracts
  • Your credit counseling certificate

Other Requirements

  • The bankruptcy court requires you to submit a filing fee with your bankruptcy petition. The fee depends on the filing chapter.
  • You may be required to complete a means test if you earn more than similar households in Oklahoma. This form will determine your eligibility for Chapter 7 bankruptcy based on your income after expenses.
  • If you are married, you must provide information about your spouse’s finances regardless of whether you are filing jointly or independently. This is required so that the court can assess your household’s financial position.

If you’re filing for bankruptcy, I can help you.  Don’t let the process deter you from seeking financial and emotional relief.

Call my office in Oklahoma City to schedule a free initial consultation. I will review your finances, answer your questions and provide practical advice. Contact Gary Hammond of Mitchell & Hammond by calling 405-216-0007.

how-do-i-start

Schedule your consultation TODAY.

  • This field is for validation purposes and should be left unchanged.

Latest Articles

Parker Drilling files bankruptcy

Parker Drilling announced Wednesday morning that it had filed for a “pre-arranged” chapter 11 bankruptcy. Parker Drilling’s proposed plan will reduce two-thirds of funded debt and inject $95 million of equity capital through a backstopped rights...

Read More...

USA Gymnastics files bankruptcy

Facing 100 lawsuits from more than 350 sexual-assault victims of team physician Larry Nassar, USA Gymnastics filed for bankruptcy protection last week. Its recently appointed board chairman said the step was taken to expedite payment of...

Read More...

Archdiocese of Santa Fe, New Mexico files bankruptcy over sexual abuse lawsuits

On December 3, the Archdiocese of Santa Fe filed for bankruptcy in the face of decades of sexual abuse lawsuits and millions of dollars in payouts to survivors. More than 350 abuse survivors have been documented...

Read More...

LBI Files for Bankruptcy

Spanish-language broadcaster LBI Media and its TV and radio stations have filed for chapter 11 bankruptcy protection. LBI owns 27 Spanish-language radio and TV stations and the Estrella broadcast TV network. Click here for the full...

Read More...
Reader's Choice 2017 award