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Chapter 7 Bankruptcy Worksheet Checklist

Step 1: Gather Information

As you complete your Chapter 7 bankruptcy worksheet, you will need to collect and provide estimates for the following information:

  • The types and amounts of all your current debts
  • Your current income and expenses
  • The value of all your assets, including any cars or homes and all your personal property

Step 2: Answer Key Questions

Use the information you collected to complete the bankruptcy worksheet. We make this easy by guiding you each step of the way and helping you to customize your document to match your specific needs. The questions and information we present to you dynamically change depending on your answers and the state selected. Click below to get started.


Step 3: Review

It is always important to read your document thoroughly to ensure it matches your needs and is free of errors and omissions. After completing the questionnaire, you can make textual changes to your document by downloading it in Microsoft Word. If no changes are needed, you can simply download the PDF version and sign. These downloads are available by navigating to the Documents section of your account dashboard.

Step 4: Determine If Bankruptcy Is Right for You

Once you have completed all the steps, you will be able to use your worksheet as a snapshot of your current financial situation. This can be helpful when combined with online tools or an experienced bankruptcy expert who can evaluate your options to determine whether bankruptcy is right for you. However, as a general rule of thumb, bankruptcy is often a good idea when the value of your total debt is more than the total value of your assets. If you fall into this category, then it may be time to get serious about filing for bankruptcy.

Discuss your options with a bankruptcy attorney or experienced professional. Due to the complexity of filing for bankruptcy, most people decide to hire an attorney to ensure the process goes smoothly. However, it is perfectly legal to file on your own (called filing "pro se"), and this may save you money. If you choose this option, be sure to call or visit the bankruptcy court in your district to learn about the process and other helpful tips. Take care to stay very organized through the process and complete any requirements the court may ask of you. 


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