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Two Years of Income Documentation to File Bankruptcy
August 29th, 2009 by admin
In order to file for bankruptcy, several forms and a petition must be filled out in order to begin the process of court approval. Lots of information is required in order to proceed with the petition such as present income, expenditures over the last two years, property bought and sold, assets that will be claimed by the applicant after the petition is filed and any property that may have been given as a gift in the past two years. A thorough assessment of personal assets, liabilities and earnings are very important to the court especially since the new laws have gone into effect. No longer can a person run up credit on luxury items within the previous 60 days before the Bankruptcy petition is filed without paying for the items.
