Athens, GA Bankruptcy
Bankruptcy case in Athens, GA begins with the filing of a petition with the bankruptcy court. The filing of the petition creates a bankruptcy estate, that usually consists of all the assets of the person seeking bankruptcy protection. A separate taxable entity is established when the bankruptcy petition is submitted by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.
A bankruptcy petition is the document that initiates the bankruptcy process. The petition may be a voluntary petition, that is filed by the debtor, or it can be an involuntary petition, that is filed by creditors who fulfill 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 may be purchased at legal stationary stores.
The documentation necessary at the time of filing for bankruptcy in Athens, GA has increased. For instance, the debtor must provide additional information that details all income and expenses. If the expenses exceed the IRS allowance, a special circumstances document has to be submitted which reasons 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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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy
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