Madison County, GA Bankruptcy

Madison County, GA Bankruptcy

Bankruptcy case in Madison County, GA starts with the filing of a petition with the bankruptcy court. The filing of the petition creates a bankruptcy estate, which usually consists of all the assets of the person filing the bankruptcy petition. An independent taxable entity is created if the bankruptcy petition is submitted by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.

A bankruptcy petition is a document that starts the bankruptcy process. A petition can 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 should 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 necessary at the time of filing for bankruptcy in Madison County, GA has increased. For example, you should provide additional information that details all income and expenses. When the expenses exceed the IRS allowance, a special circumstances document should be submitted which explains the necessity of the extra expense incurred. A statement of accuracy must also be submitted, along 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