Bankruptcy 

Many questions need answers when an individual is considering filing Bankruptcy. Bankruptcy is a complicated area of the law, and recent changes to the law make it even more confusing to those not familiar with it. Attorney Lipscomb has handled thousands of Bankruptcy cases.

Attorney Lipscomb can offer answers to questions relating to filing Bankruptcy and can inform you about your options.  She has specialized in Bankruptcy Law for more than 20 years and, as a result, she can give you some alternatives to consider while assisting you with your creditors immediately.

Here is some information about what documents you will need to file a Bankruptcy case.

INSTRUCTIONS ABOUT PRODUCTION OF DOCUMENTS
FOR CONSUMER CASES

 Anyone filing a bankruptcy petition is required to produce what may seem like a LOT of documents, depending upon what assets you own, and how complicated your case is. Business cases frequently have a greater burden than individual consumer cases, and will be discussed separately.  I need COPIES of certain records.  My policy is to keep only COPIES, so we always know that you, the client, retain all master sets of documents.  Following are examples of the nature of documents required:

1. Real Estate: If you own any interest in real estate, there are certain documents required, such as:

• Statement of SEV (State Equalized Value) from your County Assessment

• Any proof of property valuation other than the SEV, such as an appraisal done with the two years prior to filing a bankruptcy petition, especially if you have a mortgage balance greater than the SEV doubled.

• Recorded deed or deeds and recorded mortgages, which must be obtained from either your County Clerk’s Register of Deeds, or possibly from your title company.  You may have a copy of your deed and mortgage in the closing packet you receive after a mortgage transaction, but usually the packet you receive at the mortgage closing contains only your copies of the closing documents and do not even have your signatures on them – they are just your copies.  They have not been “recorded” by the county.  So you have to provide me with a COPY of the recorded documents, as I must verify dates, descriptions, legal details.  And I strongly urge you keep your own copies, as it is a good idea for all of us to keep important documents in a safe, secure and known location. 

2. Vehicles

• Copies of all vehicle titles, whether you owe money on the vehicle or not.  I must verify the validity of any lien recorded on the vehicle title and the timing of the purchase and recording.
 
• If you purchased the vehicle within the past 910 days (2.5 years), I will need to see a copy of the original purchase agreement.

• If you had the vehicle paid off once, or owned it free and clear, and then borrowed money against it, I need a copy of the loan documents.