Chapter 7 Bankruptcy Forms Explained
Forms are an essential part of the bankruptcy process. Here is a breakdown of the most common forms used in Chapter 7 bankruptcy.
The first form is the petition. This is the document that starts the bankruptcy case and must be filed with the bankruptcy court. The petition includes basic information about the debtor, such as their name, address, and Social Security number.
The next form is the schedules. These forms list all of the debtor's assets and liabilities. The schedules also include information about income and expenses.
The last form is the Statement of Financial Affairs. This form requires the debtor to disclose their financial history, including any debts that have been discharged in a previous bankruptcy case.
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