Chapter 7 bankruptcy petition

Chapter 7 bankruptcy procedures start when you, the debtor file a voluntary Chapter 7 bankruptcy petition at the clerk of the court.
The chapter 7 bankruptcy petition is formed a two page document (you need to fill this form) and a number of other forms.

You will need to complete these forms and under penalty of perjury you need to list and describe the following:
- your properties
- your current income
- income sources
- the current monthly living expenses
- your current debts
- properties you claim the law allows you to keep through the bankruptcy process also called exempt property
- property you owned and money you spent during the previous two years
- property you sold or gave away during the previous two years.

The entire process will depend on this Chapter 7 bankruptcy petition. Make sure you complete this form correctly and that you don’t omit to list any of your properties.

Whether or not failing to list certain debts is an honest mistake or a deliberate action, bankruptcy fraud is a serious offense that can be prosecuted.
If you hired a bankruptcy attorney he can make sure you complete the petition correctly and he can file the papers at the local bankruptcy court.