If it makes sense for you to file chapter 7 bankruptcy, the next step is preparing a Bankruptcy Petition which on average is 50-80 pages long. Federal Bankruptcy Law requires debtors to list all debts and all assets in the petition. There are no exceptions. In addition Debtors must fill out a Statement of Financial Affairs which includes questions regarding income, lawsuits, foreclosure, businesses, closed bank accounts, sales of property and several other matters.
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