Chattahoochee County, GA Bankruptcy

Chattahoochee County, GA Bankruptcy

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

The bankruptcy petition is the document that initiates the bankruptcy process. A petition may be a voluntary petition, which is filed by the debtor, or it can be an involuntary one, that is filed by creditors that meet certain requirements. A 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 purchased at legal stationary stores.

The documentation required at the time of filing for bankruptcy in Chattahoochee County, GA has increased. For example, the debtor must provide additional information that details all income and expenses. In cases where the expenses are more than the IRS allowance, a special circumstances document must be submitted which details the necessity of the additional expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

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