Bankruptcy Court Forms

Those wishing to file for bankruptcy must use official bankruptcy court forms. These can be found online, along with a manual explaining how to use these bankruptcy court forms. Although there are some places that charge for these bankruptcy court forms, they are available for free, so do not get your bankruptcy court forms from anywhere that charges money for them.

The bankruptcy court forms that need to be filed by an individual vary depending on the type of bankruptcy that is sought. Different types of bankruptcies require slightly different sets of bankruptcy court forms, although the majority of the basic bankruptcy court forms are the same regardless of which type of bankruptcy an individual is filing for.

For Chapter 7 Bankruptcy, the debtor files a petition for bankruptcy, as well as bankruptcy court forms consisting of schedules of assets and liabilities, a schedule of current income and expenditures, a statement of financial affairs, and a schedule of executory contracts and unexpired leases. There is also a penalty of perjury form that needs to be filled out. The debtor might also wish to fill out the bankruptcy court forms that might possibly exempt some personal belongings from the bankruptcy proceedings.

If a debtor is unable to pay the fees involved in full at the time of filing, they may file bankruptcy court forms to petition to pay either in installments or have the fees waived. There are conditions that need to be met in order to do this however, and the payments can only be split into four payments.

For other types of bankruptcy that involve reorganization, the debtor then needs to use the bankruptcy court forms to file a payment plan with the court to show how they mean to discharge the debts that are covered under the reorganization.

In some cases the debtors may file an involutary petition for bankruptcy, and in these cases the debtor still needs to fill out the appropriate bankruptcy court forms as the bankruptcy goes through the bankruptcy process.

In order to fill out all of these bankruptcy court forms, the debtor will need to gather a lot of information together. He or she will need to put together a list of all their creditors, how much they owe, and for what; how much income they have, how often they receive it, and where it comes from; all the property that they own; and a detailed list of all their monthly living expenses. They also need to provide a list of exempt property, however, what they can list on this form depends on which state they live in as the law varies from state to state. It is best to consult a bankruptcy attorney to figure out what property is exempt, and to make sure that all of the bankruptcy court forms are filled out completely and properly, and any mistakes can be very costly.

 

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