Bankruptcy Schedules and Unscheduled Debt

Related Ads

Bankruptcy Schedules are a vital part of your bankruptcy filing.  Failure to file the proper schedules and statements of your financial affairs can result in the dismissal of your petition for bankruptcy.

Property Schedules

Schedules A, B, and C of the bankruptcy filing are property schedules.  Schedule A is the schedule for listing real property.  The debtor must list any interest he/she has in real property.  This includes the following information

  • Description and location of the property
  • Nature of debtor’s interest in the property
  • Whether the property is held by husband, wife, joint or community property
  • Current value of debtor’s interest w/out deductions for secured claims or exemptions
  • Whether there is a secured interest in the property

Schedule B is for listing personal property.  There are 35 categories of property listed on this schedule.  You must provide the following information about this property.

  • Description and location of the property
  • Nature of debtor’s interest in the property
  • Whether the property is held by husband, wife, joint or community property
  • Current value of debtor’s interest w/out deductions for secured claims or exemptions

Schedule C lists the property you claim as exempt.  The debtor must list

  • Description of property
  • Current law that allows the exemption
  • Value of claimed exemption 
  • Current value of property without deducting exemption

Creditor Schedules

Schedules D thru G are for listing the debtor’s creditors.  The debtor must list the creditors name, address and account number, how the property is titled, date claim occurred and the value of the debt.

  • Schedule D lists creditors holding secured claims
  • Schedule E lists  creditors holding priority unsecured claims
  • Schedule F lists creditors  holding Unsecured Non-priority Claims 
  • Schedule G lists executory Contracts and Unexpired Leases

Co-debtors and Financial Information

Schedule H lists co-debtors.  Schedule I is for listing Debtors current, and Schedule J is for listing Debtor’s current expenses.

Unscheduled Debts

Debts that are not listed on the schedules will not be discharged when the bankruptcy is complete.  It is very important to be as accurate as possible.

Do you need a Lawyer?

Bankruptcy can be complicated.  The implications of not filing it correctly will last for years.  Do not hesitate to seek legal counsel experienced in bankruptcy law.  A bankruptcy attorney can help you protect assets and get the discharge of your debts and fresh start that is the object of the bankruptcy.

NOLODRUPAL-web1:DRU1.6.12.2.20161011.41205