What Is A Bankruptcy Petition?
A San Jose bankruptcy attorney explains what a bankruptcy petition is...
A bankruptcy petition is the document that is initially filed with the court which sets forth all of the debtor’s personal and financial information. A bankruptcy petition includes the following: a voluntary petition, a list of real property, a list of personal property (bank accounts, household goods, jewelry, clothing, etc.), a list of exempted items, a list of your secured and unsecured creditors, a statement of your monthly income and expenses, , the means test, and what is known as the Statement of Financial Affairs. The Statement of Financial Affairs included in the bankruptcy petition includes such items as your gross income for the last three years, any foreclosures or repossessions, any civil lawsuits against the debtor, and many other items related to the debtor’s finances.
A bankruptcy petition appears to be fairly simple when first viewing it, but a bankruptcy petition is actually a very intricate document where the smallest detail or omission can mean a world of trouble, including losing a house or car or retirement account. Probably the most scrutinized section of a bankruptcy petition is the monthly income and expenses schedules. This is what the Trustee views most important as this is where debtors tend to fudge the most.
If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!
