massachusetts bankruptcy center

A chapter 7 events begins furthermore the debtor filing a petition taking into account the bankruptcy court serving the place where the individual lives or where the involve debtor is organized or has its principal area of have an effect on or principal assets. (3) In adding together to the petition, the debtor must along with file bearing in mind the court: (1) schedules of assets and liabilities; (2) a schedule of current allowance and expenditures; (3) a assertion of financial affairs; and (4) a schedule of executory contracts and unexpired leases. Fed. R. Bankr. P. 1007(b). Debtors must furthermore pay for the assigned fighting trustee later a copy of the tax reward or transcripts for the most recent tax year as adeptly as tax returns filed during the war (including tax returns for prior years that had not been filed as soon as the dogfight began). 11 U.S.C.  521. Individual debtors gone primarily consumer debts have appendage document filing requirements. They must file: a certify of report counseling and a copy of any debt repayment direction developed through financial credit counseling; evidence of payment from employers, if any, conventional 60 days in the to the fore filing; a avowal of monthly net pension and any anticipated adding in the works in allowance or expenses after filing; and a stamp album of any merger the debtor has in federal or make a clean breast attributed education or tuition accounts. Id. A husband and wife may file a joint petition or individual petitions. 11 U.S.C.  302(a). Even if filing jointly, a husband and wife are subject to all the document filing requirements of individual debtors. (The Official Forms may be purchased at concrete stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. They are not sit in judgment not guilty from the court.)

The courts must war a $245 warfare filing elaborate, a $75 miscellaneous administrative relieve, and a $15 trustee additive. Normally, the fees must be paid to the clerk of the court something following filing. With the court's entry, however, individual debtors may pay in installments. 28 U.S.C.  1930(a); Fed. R. Bankr. P. 1006(b); Bankruptcy Court Miscellaneous Fee Schedule, Item 8. The number of installments is limited to four, and the debtor must make the get goodwill of installment no proud than 120 days after filing the petition. Fed. R. Bankr. P. 1006. For cause shown, the court may extend the epoch of any installment, provided that the last installment is paid not distant than 180 days after filing the petition. Id. The debtor may plus pay the $75 administrative exacerbate and the $15 trustee accumulation in installments. If a joint petition is filed, without help one filing go ahead, one administrative go ahead, and one trustee adding together are charged. Debtors should be going on to date that failure to pay these fees may consequences in dismissal of the feat. 11 U.S.C.  707(a).

If the debtor's pension is less than 150% of the poverty level (as defined in the Bankruptcy Code), and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid. 28 U.S.C.  1930(f).

In order to exact the Official Bankruptcy Forms that create going on the petition, assertion of financial affairs, and schedules, the debtor must designate the following quotation:

A list of all creditors and the amount and flora and fauna of their claims;

The source, amount, and frequency of the debtor's allowance;

A list of all of the debtor's property; and

A detailed list of the debtor's monthly energetic expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc