Petition Drafting Tips
Practical tips and techniques for drafting accurate Chapter 7 and Chapter 13 bankruptcy petitions.
33 articles in "Petition Drafting Tips"
2 Must-Have Items Before Drafting a Bankruptcy Petition
With the exception of emergency bankruptcy petition filings, there are a couple of “must-have” items that a Bankruptcy Petition Specialist™ needs to have, BEFORE beginning to draft a Chapter 7 or Chapter 13 bankruptcy petition.
Petition Drafting TipsDocuments to Provide for 341 Hearing
Here is an example of what clients need to provide for a 341 hearing-
Petition Drafting TipsWhich Schedule Do I List Rental Income In?
Recently we received a question from one of our VBAs (Virtual Bankruptcy Assistants) about reporting the rental income and mortgage debt of a client and which schedule to report them in. The scenario...
Petition Drafting TipsDocuments to Provide for a 341 Hearing
Your client is scheduled for a 314 hearing. There are several documents that they will need to provide before the hearing takes place in order for the process to go through.
Petition Drafting TipsExemption Check: Saving Time on your Petition
Here is a quick tip on exemption check. Have you ever filled out Schedule A and B, and selected the exemptions on each item listed – only to find that you have to go BACK and fix it after finishing...
Petition Drafting TipsBankruptcy Petition Drafting Tip #4
Today we had an Arizona bankruptcy petition to draft and we found the exemption allowances were much different from Ohio. For example, the home exemption was $100,000 compared to Ohio, which is only...
Petition Drafting TipsBankruptcy Petition Drafting Tip #5
Our bankruptcy attorney had a client that was in the middle of filing a Chapter 7 when her employer promoted her to full-time pay. At the time she originally filed her petition she was only working...
Petition Drafting Tips401K Loans and Wage Garnishment
We were doing a bankruptcy petition review for a virtual bankruptcy assistant prior to giving the petition to her attorney. One mistake we found was that in listing the 401K Loan as a Wage...
Petition Drafting TipsThe Means Test and the Older Vehicle Deduction
Whether you are working on a Chapter 13 or Chapter 7, there is a distinct benefit to claiming the older vehicle expense on the means test. Depending on your jurisdiction, if a debtor has a vehicle...
Petition Drafting TipsPreparation Work When Starting a Petition
Having helped numerous people in training to become a VBA, we have had the opportunity to help them form best practices in petition work. One mistake that many newly trained VBAs make when given a...
Petition Drafting TipsHow to Report Expenses for Debtors with Separate Households
When you are drafting a bankruptcy petition for a couple who is separated and maintain their own separate households, there is a nearly complete duplication of all expenses, including things such as...
Petition Drafting TipsWhat to Do When You Have Missing Pay Stubs for a Bankruptcy Petition
Have the debtors on the cases you have worked on, ever not submitted EVERY pay stub you need for the Means Test?