Bankruptcy Filing Checklist for Newark

Use this checklist to prepare for your bankruptcy filing. Being organized speeds up the process and reduces costs.

You need tax returns (2 years), pay stubs (6 months), bank statements (6 months), a list of all debts, asset values, and monthly expenses.

Documents to Gather

  • Federal and state tax returns (last 2 years)
  • Pay stubs or proof of income (last 6 months)
  • Bank statements (last 6 months, all accounts)
  • Most recent mortgage statement
  • Vehicle loan statements and registration
  • Credit card statements (all accounts)
  • Medical bills
  • Student loan statements
  • Lawsuit papers or garnishment notices
  • Insurance policies
  • Retirement account statements (401k, IRA)
  • Divorce decree or separation agreement (if applicable)
  • Business financial records (if self-employed)

Steps Before Filing

  1. Complete credit counseling - Required within 180 days before filing. Approved agencies at justice.gov.
  2. Stop using credit cards - Charges within 90 days of filing may not be dischargeable
  3. Do not transfer property - Transfers within 2 years can be reversed by the trustee
  4. Do not repay family members - Payments to insiders within 1 year are recoverable preferences
  5. File all tax returns - You must be current on tax filings
  6. Pull your credit report - Ensure all debts are listed in your petition

Common Mistakes to Avoid

  • Running up credit card debt before filing
  • Transferring property to family members
  • Paying back favored creditors (family, friends)
  • Hiding assets or income
  • Taking on new loans
  • Not listing all creditors in the petition

Free Legal Help

Legal Services of New Jersey

Phone: (888) 576-5529

Website: lsnj.org

Frequently Asked Questions

How long does it take to prepare?

Most people need 1-2 weeks to gather all documents. Your attorney may need an additional 1-2 weeks to prepare the petition.

Can I file without all documents?

You can file an emergency petition (bare-bones), but you must provide remaining documents within 14 days. Missing the deadline can result in dismissal.

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