How to Amend Schedule J During a Bankruptcy Case

When you are filing for bankruptcy, there is always a burdensome amount of paperwork involved, no matter what chapter or type of bankruptcy is being filed. These different forms and schedules that are required for filing bankruptcy must be completed as accurately and completely as possible, as they are used to portray your actual financial situation, which in turn will directly affect both the length and the outcome of the bankruptcy filing.  

The Schedule J

One of these schedules is titled “Schedule J”, and it deals directly with the petitioner’s expenses.

• The information on schedule J is compared to Schedule I during the bankruptcy filing (schedule I lists the petitioner’s income.)
• Schedule J is not only a display of the current expenses the petitioner is responsible for every month, but it also shows both the court and the creditors listed in the petition the expenses the petitioner will be responsible for in the future if the bankruptcy is not successful. 

Unfortunately, when filling out Schedule J, many people don't realize that the type of bankruptcy they are petitioning for generally affects how the form should be completed.  If a mistake is made in filing, a bankruptcy amended schedule j may be required.

Amended Schedule J 

An amendment may be made to almost any document during the course of a bankruptcy in the event that new information is presented to the debtor, such as a creditor agreeing to a payment arrangement or a settlement agreement, or a debtor receiving a raise or obtaining a new job, or getting an inheritance. Basically anything that substantially alters the debtor’s financial situation is cause for an amendment to at least one of the documents that were completed in the petitioning.

In particular, an amended Schedule J shows that one or more of the expenses the debtor has listed in the original Schedule J has changed, either for the better or the worse of the debtor. The change must be noted so that the bankruptcy is processed correctly.  

For instance, if a debtor has petitioned for a Chapter 7 bankruptcy and has listed that one of his monthly expenses costs over $500 dollars a month, and after the petition has been filed, the expense is no longer required, the Amended Schedule J should be filled out because the change in expense could free up funds that could be used to repay creditors, resulting in a switch to a chapter 13.

Getting Help

If you need to amend the schedule J, you should strongly consider speaking with an experienced bankruptcy attorney. Your lawyer can explain your options and assist you in updating your forms with the court.