It all begins with a petition being filed with the bankruptcy court which serves the area where the debtor lives, debtor business is organized, principal place of business or principal assets.

There are other items that need to be filed with the court besides the petition. They are:
1. A schedule of the assets and liabilities.
2. Schedule of debtor's current income and expenditures.
3. Statement of financial affairs.
4. Schedule of executory contracts and unexpired leases.
5. Copy of tax return or transcripts for most recent tax year.
6. Tax returns filed during the case (including tax returns for prior years that had not been filed when the case began).
7. Certificate of credit counseling, copy of any debt repayment plan developed through credit counseling.
8. Evidence of payment from employers, if any, received 60 days before filing.
9. Statement of monthly net income and any anticipated increases in income or expenses after filing.
10. Record of any interest debtor has in a federal or state qualified education or tuition accounts. A husband and wife may file a joint petition or individual petitions. 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 legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. They are not available from the court.)

The courts must charge a $245 case filing fee, a $39 miscellaneous administrative fee, and a $15 trustee surcharge. Normally, the fees must be paid to the clerk of the court upon filing. With the court's permission, however, individual debtors may pay in installments. The number of installments is limited to four, and the debtor must make the final installment no later than 120 days after filing the petition. For cause shown, the court may extend the time of any installment, provided that the last installment is paid not later than 180 days after filing the petition. The debtor may also pay the $39 administrative fee and the $15 trustee surcharge in installments.

If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. Debtors should be aware that failure to pay these fees may result in dismissal of the case. There is a large amount of information necessary to filing for bankruptcy.

This information must be presented according to the procedures dictated by the bankruptcy court and within specific deadlines. Although it may be tempting to try and save money filing the paperwork without an attorney, an innocent mistake on your part could result in your case being dismissed for not adhering to the court procedures.

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