Bankruptcy Questions
Complete Bankruptcy Questionnaire
Section 6 of "The Chapter 7 Bankruptcy Process"
At the initial consultation, your attorney will request that you take home and complete a form, normally referred to as a bankruptcy questionnaire. Typically, questionnaires are several pages long and require that you provide substantial details regarding income, assets, debts, and other relevant information, such as transfers of property.
Plan on spending several hours, and possibly several days, to complete the bankruptcy questions. If overwhelmed, break the questionnaire down into manageable sections. For example, commit one day to complete answers to questions about income, another day to work on assets, and a third day to list creditors and balances.
As you work on the bankruptcy questions, there may be certain parts that need additional clarification or explanation. Make a list. Before finalizing the questionnaire, contact your attorney or his or her paralegal for answers.
There are a few things that you need to keep in mind when completing the bankruptcy questionnaire:
1. Answer all bankruptcy questions honestly.
Bankruptcy documents filed with the Court are signed under the "penalty of perjury". If you knowingly or fraudulently submit inaccurate information, such as failing to disclose assets, reporting income wrong, or using a false Social Security number, you may be fined and even imprisoned.
The U.S. Trustee Program, a division of the U.S. Department of Justice, randomly audits Chapter 7 bankruptcy cases and will prosecute fraudulent behavior.
2. Answer all bankruptcy questions thoroughly.
The bankruptcy questionnaire may seem overwhelming. Avoid the temptation to rush through it. Answer every question thoroughly. Be completely honest and do omit any information.
Order a copy of your credit report to make sure you list all creditors. Make sure you also list debts owed to family members, friends and relatives, as well any debts that are disputed or the subject of a pending lawsuit.
3. Answer all bankruptcy questions accurately.
Make sure all information is listed accurately. For example, if an inaccurate address is provided for a creditor, that creditor may not receive notice of the bankruptcy filing.
4. Provide copies of supporting documentation.
When possible, provide your attorney with copies of supporting documentation, including:
- bank statements
- loan paperwork
- credit card bills
- tax returns
- pay stubs
- recent appraisals and asset valuations
- relevant receipts
Make sure you keep the original documents for your records.
5. Make sure your bankruptcy answers are legible.
Your attorney, or a member of his or her staff, will use the bankruptcy questionnaire to complete your documents for filing with the Court. Make sure that all answers are legible to avoid unnecessary delays and errors.
This page is Section 6 of the following 13-part article:
- Introduction to Chapter 7 Bankruptcy
- Investigate Alternatives
- Attend Pre-Bankruptcy Credit Counseling
- Select an Attorney
- Attend Initial Consultation
- Complete Bankruptcy Questionnaire
- Finalize and Sign Bankruptcy Documents for Filing with Court
- Prepare for and Attend Section 341 Meeting of Creditors
- Attend Pre-Discharge Bankruptcy Education Course
- Turn Over Nonexempt Assets to Case Trustee
- Distribution of Nonexempt Assets to Creditors
- Receive Discharge
- Order Closing Case
       
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