When you file a Chapter 7 or Chapter 13 bankruptcy case, you are required to make “full financial disclosure.” This means that you must disclose all of your assets and all of your debts. Debtors must provide the court with a list of all your creditors. This is a good thing because it allows you to discharge as much debt as possible.

You must also disclose all sources of income. Obviously, this includes your salary, but it is important to disclose other sources of revenue that you receive such as:

• wages, salary, overtime pay, tips or bonuses
• profit from a business
• dividends from stocks
• royalties
• income from real property
• income from retirement accounts or pensions not protected by ERISA
• income from child support or spousal support
• Unemployment or worker’s compensation benefits

There are other possible sources of income, so it is important to discuss this matter with your attorney. Michael A. Koplen can review your financial documentation and help ensure that you make the appropriate disclosures to the court.