Tag: Bankruptcy

How to File the Chapter 7 Bankruptcy San Antonio Petition

Introduction

Once you have decided to file the Chapter 7 Bankruptcy San Antonio, the first task is to fill up the petition form. It is the most important step which can give you leverage over the court proceedings. The first benefit is protection from the debtors. They can’t take away your assets for paying the debts. They can’t harass or threaten you of consequences. They can’t communicate top you through any channel to discuss the debts. You get protection until the court delivers the final verdict.

Chapter 7 Bankruptcy San Antonio – Petition Form

Your first task is to understand the petition form. It has many sections. The first section is your name. You have to enter it as in any of the picture identifications like passport, social security card, driving license, or other government-issued identity cards. Make sure you have spelled your first name and last name correctly.

The petition form also applies for the joint case which includes your spouse. You have to show the original picture identification to the trustee when required.

Your spouse may have had one or many names before marriage. You need to input all those names as they have appeared in various documents. The regulations also apply for your name. Make sure you have entered all the names with correct spelling.

Social security number (last four digits) is the other detail which you have to input on the form. If you don’t have it, you can input the ITIN which you got from the federal government.

If you are an employee, you have to enter the details of our employer and the company in which you work now. If you are an entrepreneur or an employer, you have to enter the name of your business organization, address, partner details, etc.

You have to input the residential and mailing addresses separately if they are not same. You should also enter the residential and mailing addresses of your spouse if she is living away from you.

You have to choose a district in which you have lived for the past three months or more. Otherwise, you have to provide another reason, which is under 28-USC section 1408 of the Bankruptcy San Antonio regulations.

You can choose Chapter 7 Bankruptcy or Chapter 13 Bankruptcy San Antonio, depending on the advice you get from your attorney. You have to be very careful while deciding between the two. If you choose Chapter 24 hr tow truck Bankruptcy San Antonio, you may face the risk of asset liquidation. But you may be saved from the burden of having to repay the debts. If you choose Chapter 13 Bankruptcy San Antonio, you may save most of your asset. But you have to repay the entire debt or part as the court trustee decides.

Now, you have to fill up the Fee details. You can pay it while filing the petition, in installments, or ask for an exemption from the fee.

Conclusion

Study the form in detail before filling up any of the details. You can also consult your attorney to clarify your doubts if any.

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