Should I pull asset and credit reports before filing Chapter 13 Bankruptcy?

Posted by Wesley Scott on December 24, 2018 at 11:41 AM
Wesley Scott

So, you are preparing to file Chapter 13 Bankruptcy. You have hired a licensed and local Chapter 13 Bankruptcy attorney in your state. You have not called any out of state companies and you have dismissed any law firm that would have you meet with a paralegal.

You are now meeting to put together the Chapter 13 Bankruptcy schedules and the question comes up- what things should we gather to prepare your Chapter 13 Bankruptcy? If you have hired a quality bankruptcy law firm they should pull your credit reports for you. Human memory is a faulty instrument. I have seen people over the years who have suffered with memory loss due to accidents and other causes. Heck, I sometimes struggle to remember my name. It is absolutely essential that the law firm you hire pull your public credit reports which displays any creditor information in the public domain and merge that information into the Chapter 13 schedules.

In addition to credit reports, it is essential that the law firm you hire pull your public asset reports too. You say why is this necessary, I remember what assets are in my name? Maybe you do but maybe you don’t! For example, say you sold your 2001 Ford F150 to Larry but Larry fails to put the title to the F150 in Larry’s name, you are still title owner! Remember, on the date of filing the Chapter 13 Bankruptcy you must disclose all LEGAL and EQUITABLE interests you have in any assets in the world! Pulling your public asset reports is essential in gathering the information necessary to make sure the schedules are complete.


Topics: Chapter 13 Bankruptcy, Credit Reports