If
you are self employed, you will be required
to submit additional financial information
so that the Trustee may evaluate your Chapter
13 plan. You will be considered self employed
if you do business as:
| • |
“S” Corporation,
where the petitioner is a shareholder/employee |
| • |
“C” Corporation,
where the petition is a shareholder
/ employee |
| • |
Rental property owner/
Landlord |
| • |
Partnership |
| • |
Operate business as
a sole proprietor |
Additional information
required of self employed petitioners
include:
| • |
Tax returns for the
last three years which reflect the
business, (1040 schedule C, or complete
1120 S or 1120 Corporate returns) |
| • |
Balance Sheet of all
assets and liabilities as of the
date of filing the Chapter 13 petition |
| • |
Income statement projection
on how the income listed on petition
schedule I was calculated |
|
Additional
information may include bank statements,
rental contracts, lease contracts, or
all other relevant information deemed
necessary in order for the Chapter 13
Trustee to complete a financial review
of your business operations in order
to determine if payments into the plan
can be made as proposed
The Trustee is
a fiduciary and must investigate business
affairs of all Chapter 13 petitioners
pursuant to 11 USC Section 1302(c), 11
USC Section 1306(a)(3), 11 USC Section
1306(a)(4)
A 341 self employed
questionnaire is necessary to be completed
and submitted to the Trustee prior to
the 341 meeting. A copy of said questionnaire
can be obtained by clicking here |
