a)   Petition, Schedules and Statement of Financial Affairs – These initial pleading provide the trustee and creditors with a financial snapshot of the debtor as of the date of filing. These papers describe the debtor’s assets, liabilities, monthly income and monthly expenses.

b)   Must File Last Four Tax Returns – A new requirement under BAPCA is that the debtor must be current with his federal income tax filings for at least the last four years. A copy of the last four years of tax returns must be submitted directly to the trustee. Don't worry if you cannot find your returns for the last four years.  We can order tax transcripts directly from the IRS.

c)   Credit Counseling – The Ticket Into Bankruptcy – A new Provision under BAPCA requires that a debtor receive credit counseling within the six month period prior to filing a bankruptcy petition. The credit counseling agency must be approved by the U.S. Trustee’s Office. The certificate of credit counseling is filed simultaneously with the bankruptcy petition. The cost for credit counseling is approximately $50 per person ($100 per couple), although our office has a relationship with an approved credit counseling agency that only charges $40 per person or couple.

d)   Debtor Education – The ticket Out of Bankruptcy – Prior to receiving a discharge in bankruptcy but after the case is filed, debtors must complete a debtor education program. The debtor education provider must be approved by the U.S. Trustee’s Office. The certificate of completion is filed with the bankruptcy court. The cost for the approved program is approximately $50 per person ($100 per couple), although our office has a relationship with an approved debtor education provider that only charges $40 per person or couple.