Use this checklist to prepare before officially filing for Chapter 7 bankruptcy. Being fully prepared helps avoid delays, increases the chance of discharge, and ensures you're in compliance with legal requirements.

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1. Evaluate Your Financial Situation

• List all your debts (credit cards, medical bills, personal loans, taxes, etc.)

• List all your monthly income sources

• Track monthly living expenses

• Take inventory of your assets and property

• Consider alternative debt solutions (credit counseling, debt settlement)

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2. Consult a Bankruptcy Attorney

• Schedule a free consultation with a qualified bankruptcy attorney

• Discuss your eligibility for Chapter 7 (Means Test)

• Review pros and cons of filing Chapter 7 vs. Chapter 13

• Disclose all debts, assets, and recent financial activity honestly

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3. Complete Required Credit Counseling

• Enroll in a court-approved credit counseling course

• Complete the course within 180 days before filing

• Receive your certificate of completion (required to file)

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4. Gather Required Documentation

• Last 6 months of pay stubs or income records

• Federal and state tax returns (last 2–4 years)

• Recent bank statements

• Credit card and loan statements

• Copies of all bills and collection letters

• Vehicle titles, real estate deeds, mortgage statements

• Proof of retirement and investment accounts

• Court orders (child support, alimony, lawsuits)

• Social Security card and photo ID

• Previous bankruptcy paperwork (if applicable)

• Credit report from all 3 bureaus (Equifax, TransUnion, Experian)

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5. Take the Means Test

• Complete the Chapter 7 Means Test (your attorney will help)

• Compare your income to your state’s median income

• Determine if you qualify for Chapter 7 or should consider Chapter 13

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6. Avoid These Financial Mistakes

• Do not take out new loans or credit cards

• Do not make large purchases or cash advances

• Do not transfer or hide assets

• Do not repay loans to family/friends preferentially

• Do not withdraw from retirement accounts to pay debt

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7. Plan for the Bankruptcy Process

• Know what property is protected by bankruptcy exemptions in your state

• Understand what debts can and cannot be discharged

• Prepare for the Meeting of Creditors (341 Meeting)

• Budget for the bankruptcy filing fee (approx. $338) or apply for a waiver/installment plan

• Stop automatic payments to discharged debts (after filing)

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8. Review and Sign Your Bankruptcy Petition

• Carefully review all documents prepared by your attorney

• Confirm accuracy of income, assets, debts, and expenses

• Sign and file your petition with the bankruptcy court

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Optional but Helpful

• Create a folder (physical or digital) with all documents and notes

• Notify your bank/employer of any upcoming changes (like wage garnishment stoppage)

• Make a list of questions for your attorney

• Start thinking about post-bankruptcy financial recovery (budgeting, rebuilding credit)

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You're Ready to File

Once all these steps are completed, you're ready to move forward with your Chapter 7 filing and begin your path toward a fresh financial start.