Help with Bankruptcy Forms: Schedule H - Codebtors

Related Ads

If you are completing a Bankruptcy form Schedule H for Codebtors then you will need to have a set of clear and concise instructions, but your best bet is to opt to have a bankruptcy attorney assist you.  Prior to completing the Schedule H form, you should know what a co-debtor is.  A codebtor is an individual who you may share debt with.  In the event that you bought a car or a house, a codebtor would be your co-signer.  Codebtors are often offered certain protections when the debtor files for bankruptcy.  Additionally, a codebtor may receive credit for payments that are made by the debtor on a debt during a bankruptcy case.  In short, the codebtor will not be penalized for the debtor’s bankruptcy.

Completing Schedule H

To complete Form 6 for Schedule H is not as hard as you may think.  It is pretty straightforward, and you just need to have patience.  In a nutshell, Schedule H is designed to simply provide the trustee and the creditors with information about any and all codebtors .  A codebtor is an individual in a joint case who is liable for debts that are listed by the debtor in the schedules of creditors.  If you have no codebtors then you will need to check the corresponding box and move forward to the next schedule. 

You will want to complete the form as best as you can and ensure you give accurate information:

  • The form is a basic two column form. 
  • You will probably want to write a draft first and then type up your final copy after you verify all of your creditors. 
  • Additionally, if you do have a codebtor that is not your spouse, make sure that you have the exact and most recent address of your codebtor. 
  • Your codebtor could also be a person who may have co-signed a property for you.  A codebtor can also be a guarantor as well.  You will also need to list the names of a non-codebtor spouse.

Getting Help

If, by chance, you are working on the form for Schedule H and you find that you are still having a bit of trouble, then you might consider consulting with a bankruptcy attorney. Your attorney can help you complete this form, as well as all of the other many required forms when declaring bankruptcy, to ensure that everything is done correctly to the bankruptcy can move smoothly through the courts and be approved, giving you the debt relief you need.