Can I be Self employed after bankruptcy? 14 Answers as of June 26, 2013

What kind of income verification is required for a self employed person filing Chapter 13? Schedule C? P/L statements?

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Mauritz Van Niekerk, Attorneys at Law
Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
Yes and not even sure why you need Chapter 13.
Answer Applies to: New York
Replied: 7/24/2011
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
That really depends on the Trustee in your case and the local rules of your jurisdiction, but generally profit and loss statements supported by prior years' tax returns and bank account deposit statements will suffice.
Answer Applies to: California
Replied: 7/21/2011
Law Office of Harry L Styron
Law Office of Harry L Styron | Harry L Styron
The usual verification (in the Northern District of California) is the most recent 1040 with Schedule C and a P&L. But it depends on what the Chapter 13 trustee wants to see in each individual case.
Answer Applies to: California
Replied: 7/21/2011
Law Office of Abel L. Pierre
Law Office of Abel L. Pierre | Abel L. Pierre, Esq.
For a Self Employed person generally tax returns will suffice.
Answer Applies to: New York
Replied: 7/21/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You will need a p&l and bank statements to support the p&l. Self employed file Chapter 13 all the time.
Answer Applies to: California
Replied: 7/21/2011
    Tucker Legal Clinic
    Tucker Legal Clinic | Samuel Tucker
    You will need to show your last two tax returns, but, yes, you can continue or resume self employment.
    Answer Applies to: Mississippi
    Replied: 7/21/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Yes, those as well as bank statements. And are you sure you want a 13?
    Answer Applies to: Virginia
    Replied: 6/26/2013
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    A self employed person with regular income is eligible to file chapter 13. You will need a profit and loss statement and proof of income for the six months prior to filing. There are forms called a "business examination" which also need to be completed and provided to the chapter 13 trustee.
    Answer Applies to: California
    Replied: 7/21/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    You will be required to verify your income with a business profit and loss statement that must be attached to schedules I and J when filing. I would not advise anyone to do this without an attorney as this could drastically effect your plan viability and plan payments.
    Answer Applies to: California
    Replied: 7/21/2011
    Eric J. Benzer, Attorney at Law
    Eric J. Benzer, Attorney at Law | Eric Benzer
    Yes
    Answer Applies to: Maryland
    Replied: 7/21/2011
    Colorado Legal Solutions
    Colorado Legal Solutions | Stephen Harkess
    In most cases, no one will seek income verification after the Chapter 13 plan is confirmed. As long as you earn enough to keep up with your plan payments you can do anything you want.
    Answer Applies to: Colorado
    Replied: 7/21/2011
    Fears & Nachawati Law Firm
    Fears & Nachawati Law Firm | C. Bryan Fears
    Yes, you can be self employed during or after filing a chapter 13 bankruptcy. Your business should be listed on SOFA and you will be required to provide a P&L.
    Answer Applies to: Texas
    Replied: 7/21/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    This sounds like you are trying to do a Chapter 13 pro se. Such cases almost always fail. Self-employed cases are the hardest and they may need more tweaks along the way. A good lawyer will know what to provide a trustee and when to best process your case. Seek counsel.
    Answer Applies to: Georgia
    Replied: 7/21/2011
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