Bankruptcy Forms
Section 7 of "The Chapter 7 Bankruptcy Process":
Finalize and Sign Documents
The next step in this process is the review and signing of your bankruptcy forms.
After completing and returning the questionnaire to your attorney, he or she (or a member of his or her staff) will draft a copy of all the pleadings that are required to initiate a case.
The pleadings required for a Chapter 7 case generally consist of three main sections:
1. Petition
This section contains basic information about the individual or entity filing Chapter 7, including name (and aliases), address, last four digits of social security number, and prior bankruptcy information.
2. Schedules
The bankruptcy schedules contain the bulk of information regarding the filer's assets, creditors and current financial situation:
- Schedule A - Real Property (real estate)
- Schedule B - Personal Property (all other property, tangible and intangible)
- Schedule C - Exempt Property
- Schedule D - Secured Claims (i.e. mortgages and car loans)
- Schedule E - Unsecured Priority Claims (i.e. unpaid taxes, child support)
- Schedule F - Unsecured Nonpriority Claims (i.e. credit card bills, medical bills)
- Schedule G - Executory Contracts and Unexpired Leases
- Schedule H - Codebtors (i.e. guarantors and co-signors other than spouse in a joint case)
- Schedule I - Current Household Income
- Schedule J - Current Household Expenses
3. Statement of Financial Affairs
The Statement of Financial Affairs provides other information, such as:
- Year-to-date income and income for two years preceding bankruptcy filing
- List of creditors paid $600 or more in 90 days preceding bankruptcy filing
- Lawsuits and other administrative proceedings
- Gifts and charitable contributions made in year preceding bankruptcy filing
- Fire, theft, casualty and gambling losses
- Payments related to debt counseling or bankruptcy
- Information regarding property transfers
- Financial accounts closed within one year preceding bankruptcy filing
- Property held for others
- Prior addresses for three years preceding bankruptcy filing
- Information regarding non-filing spouse and former spouses
- Business information
In addition to these bankruptcy forms, there are other required documents that will be filed with the Court, including a Statement of Social Security Number, Statement of Current Monthly Income, creditor matrix, certificate regarding pre-bankruptcy credit couseling, and more. Each case is different. Your attorney will know exactly what bankruptcy forms are required for your situation.
To view free forms that are commonly used, see the U.S. Bankruptcy Court Forms Manual maintained by the Administrative Office of the U.S. Courts.
After the bankruptcy forms are drafted, your attorney will request that you review them. Many times, he or she will schedule an appointment so that they can be reviewed in person. If there are no significant time-consuming changes, your attorney will likely make the changes during the meeting and have you sign the documents for filing with the Court.
When you sign the bankruptcy forms, make sure that all information is accurate and complete. These documents are signed under the penalties of perjury. There are harsh penalties, including stiff fines and even imprisonment, for fraudulently submitting inaccurate information or failing to disclose required information.
If you need to double check your records, let your attorney know. He or she may still have you sign the documents, but will not submit them to the Court until you verify that the information is correct.
In most jurisdictions, bankruptcy forms are now filed electronically with the Court. This means that they may be submitted the same day, and sometimes within minutes, of signing. For this reason alone, make sure you speak up if you need to double check your records.
