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Filing bankruptcy through Chapter 7 has some rules to follow. These once understood make the whole bankruptcy process much easier. If there aren’t many assets and the bankruptcy is straightforward, then one can proceed with the bankruptcy process without even hiring any lawyer. However, to be sure and to ensure you are not missing on a potential planning opportunity, you can dial 888-297-6203 for reliable bankruptcy advice.
Bankruptcy form
There is a standard bankruptcy form that is available on the official site, which is more or less consistent across the United States of America. In addition to these forms, there might be some additional local forms that may be required as mandated by your state or district bankruptcy court. Using these standardized bankruptcy forms and filling them accurately helps in minimizing the chances of dismissal as well.
Credit counseling
In the time frame of 6 months or 180 days, the filer has to avail of a credit counseling course and attach the certificate of the same with the bankruptcy filing documents.
Qualifying for Chapter 7
It is important to get through qualifying aspects under Chapter 7 like the means test to ensure the filer qualifies for Chapter 7. Once this is determined, one can submit a bankruptcy form along with a filing fee to the bankruptcy court to initiate the process. To confirm whether you are eligible for filing for Chapter 7 or not log on to https://recoverylawgroup.com/bankruptcy/ and figure out many more details right now.
Complying with other rules
The federal tax return for the recently concluded financial year has to be submitted to the bankruptcy court. This will be used to match or verify the proposed household income of the filer for Chapter 7 filing. Apart from the credit counseling course, there is another course which is ‘debtor education on financial management’ also needs to be completed before the discharge under Chapter 7 occurs. Along with these, the all-important meeting with lenders under the trustee’s supervision needs to be attended. Apart from this, there can be several requirements, information, documents, etc., needed by the trustee and there is an expectation from the filer to cooperate throughout the process.