Chatham County, GA Bankruptcy

Chatham County, GA Bankruptcy

Bankruptcy process in Chatham County, GA begins with the filing of a petition with the bankruptcy court. The filing of the petition creates a bankruptcy estate, that typically consists of all the assets of the person filing the bankruptcy petition. An independent taxable entity is established if the bankruptcy petition is submitted by an individual under chapter 7 or chapter 11 of the Federal Bankruptcy Code.

The bankruptcy petition is a document that initiates the bankruptcy process. The petition may be a voluntary petition, which is filed by the debtor, or it may be an involuntary petition, which is filed by creditors that meet certain requirements. The voluntary petition must 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 when filing for bankruptcy in Chatham County, GA has increased. For instance, the debtor should provide additional information that details all income and expenses. If the expenses exceed the IRS allowance, a special circumstances document must be submitted which explains the necessity of the extra expense incurred. A statement of accuracy must also be submitted, together with these special circumstance documents.

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