Bibb County, GA Bankruptcy

Bibb County, GA Bankruptcy

Bankruptcy process in Bibb County, GA starts with the filing of a petition in the bankruptcy court. The filing of the petition establishes a bankruptcy estate, which typically consists of all the assets of the person seeking bankruptcy protection. An independent taxable entity is created if the bankruptcy petition is filed by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.

A bankruptcy petition is a document which starts the bankruptcy process. A petition may be a voluntary petition, which is filed by the debtor, or it can be an involuntary petition, that is filed by creditors that meet certain requirements. The voluntary petition should be as prescribed 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 necessary when filing for bankruptcy in Bibb County, GA has increased. For example, the debtor should provide additional information that details all income and expenses. In cases where the expenses exceed the IRS allowance, a special circumstances document must be submitted which reasons the necessity of the extra expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

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