Bankruptcy

Different Types Of Bankruptcy Forms For Chapter 7 Petition

When it comes to filing a bankruptcy petition under chapter 7, there are different types of bankruptcy forums that you need to fill out and submit. The knowledge about the right forms is important, as any mistake, no matter how small it is, can prove to be very costly and eventually make the process much more complicated. Therefore, if you are considering filing a bankruptcy petition, make sure you are aware of the right types of forms that you are required to work with. Following is a brief rundown on it.

Form B1 – Voluntary Petition

The first form that you need to file is the Form B1, which is also referred to as the voluntary petition form. Once you fill out and submit this form, it means you have officially declared bankruptcy and creditors cannot contact you to collect the debts. It is like an automatic stay order comes into place. If you have already filed this form and some of your creditors are still giving you calls for debt collection, you can file a complaint against them. You just need to provide some basic personal and financial information in this form.

Form B4 – List Of Creditors

Among the different types of bankruptcy forums, form B4 is also an important one. You need to provide the list of creditors that you owe debts to. For this, you are required to fill out the form B4, where you have to provide details of all those creditors that hold twenty largest unsecured claims.

Schedule J

In this form, you have to provide the details of the monthly expenses. You can include all expenses that belong to you or your family.

Schedule I

The schedule I is the form, where you are required to provide a list of your different income sources. You also need to mention in this form about your employment, such as the contact details of your current employer, how long you are employed there, and how many dependent family members you have.

Schedule H

If there are individuals who signed as co-debtor for some of the debts, you need to provide the list of all those co-debtors in the Schedule H form.

Schedule G

All unexpired leases of personal or real property and all executory Contracts of any nature need to be mentioned in the schedule G form, which is one of the different types of bankruptcy forums. In this form, you can provide information about any kind of lease you are in, such as car leases and residential leases.

Schedule F

You have to provide the detailed list of all your unsecured creditors in the Schedule F form. You have to mention the majority of debts in this form that may include medical bills, credit card debt, law suits, and others.

Schedule E

All Priority Unsecured Claims have to be listed in the Schedule E form. Some of the most common claims may include taxes to the state or local government or to the IRS and Domestic Support Obligations.

Schedule D

This form should include a complete list of all your Secured Creditors, such as a purchase money security interest (PMSI), auto loan lender, the mortgage lender among others.

Schedule C

The Schedule C form includes a detailed list of all such properties that you are claiming the exemptions for. Depending upon the state you are filing your bankruptcy petition in, you may or may not have a choice to replace your state-specific exemptions with the federal list of exemptions. The evaluation here can be a little complicated. Therefore, it may be a nice idea to hire a bankruptcy lawyer to assist you with the process.

Schedule B

The Schedule B is also one of the different types of bankruptcy forums, where you need to provide the list of all your personal properties, which you own.

Schedule A – Real Property – Form B6A

In Schedule A (Form B6A), you have to provide the list of all types of real properties that own or have some equity in, such as the ones listed in mortgage or deed. Such real properties may include cabin, vacation home, your personal residence, and others.

As you can see, there can be so many different types of bankruptcy forums that you may have to fill out and submit when you are filing a bankruptcy petition. If you find the process a complicated one, something you can handle yourself, you always have an option to hire a lawyer to assist you with the process.


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