Augusta, GA Bankruptcy

Augusta, GA Bankruptcy

Bankruptcy case in Augusta, GA starts with the filing of a petition with the bankruptcy court. The filing of the petition establishes a bankruptcy estate, that usually consists of all the assets of the person seeking bankruptcy protection. An independent taxable entity is created when the bankruptcy petition is filed by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.

The bankruptcy petition is a document that initiates the bankruptcy process. A petition may be a voluntary petition, that is filed by the debtor, or it may be an involuntary one, that is filed by creditors that meet certain criteria. The voluntary petition should be as provided in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms can be obtained at legal stationary stores.

The documentation required at the time of filing for bankruptcy in Augusta, GA has increased. For instance, the debtor must provide additional information that details all income and expenses. In cases where the expenses exceed the IRS allowance, a special circumstances document must be submitted which explains the necessity of the additional expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

———————
We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.