Chapter 7 | Chapter 11 | Chapter 13

There are three types of bankruptcy cases — Chapters 7, 11, and 13. Separate pages explaining each Chapter in detail can be found
on this website. A brief summary follows:

Chapter 7: The goal for individuals who file Chapter 7 is to free themselves of debt through a bankruptcy discharge. Although businesses normally do not receive a discharge, corporations and partnerships may use Chapter 7 to liquidate and close their business.

Chapter 11: Corporations, partnerships, and sole proprietors wishing to remain in business and reorganize their financial affairs may file Chapter 11. These debtors seek to restructure their debts, either by reducing the debt or by extending the time to repay. A Chapter 11 plan can also be used to liquidate all or a portion of a debtor's assets.

Chapter 13: Chapter 13 is for individuals with regular income who want to reorganize their financial affairs. The debtor proposes a repayment plan, say to catch up on the arrears on their home mortgage. Only individuals and sole proprietors are eligible for Chapter 13, which is simpler and much less expensive than a Chapter 11.

Documents Required for the Office Appointment:
In order to prepare the consumer bankruptcy papers, the client should bring the following documents:

1. A list of all creditors, including addresses, account / loan numbers, and the amounts and description of each debt;

2. For each secured debt, such as a car loan or home mortgage: a. copy of the latest statement showing the balance due on the debt;

3. Income tax returns for the last two years, including W-2, 1099, and K-1 information;

4. Copies of the last two months of paystubs and copy of the most recent bank statement for any bank accounts.

5. A detailed list of the debtor's monthly living expenses, i.e., food, clothing, housing, utilities, taxes, transportation, medicine, etc;

6. If self-employed, copies of monthly profit-and-loss statements for the past six months;

7. Copies of any lawsuits or judgments, regardless of whether the client is a plaintiff or defendant.