Just how A bankruptcy proceeding Work
A part seven circumstances starts with the latest debtor submitting good petition to the bankruptcy proceeding court providing the bedroom where in actuality the private lives otherwise where providers borrower was structured or has its own dominant office otherwise principal possessions. (3) Plus the petition, this new borrower might also want to document for the legal: (1) schedules away from property and you can liabilities; (2) a schedule away from latest income and costs; (3) a statement away from financial products; and you can (4) a plan regarding executory agreements and you may unexpired accommodations. Fed. R. Bankr. P. 1007(b). Debtors should also supply the assigned circumstances trustee with a copy of your taxation go back otherwise transcripts for present taxation seasons and additionally tax returns recorded within the case (together with taxation statements to own past decades which had maybe not become registered when the case began). Continue reading