Essential Forms For Bankruptcy Filing In Tennessee

If you are filing for bankruptcy in Tennessee, then you need to be aware of the state laws and fill in all the necessary forms that this state considers essential for filing for bankruptcy. It is vital that all these forms are filled in accurately for your bankruptcy proceedings to move toward a favorable closure.

Voluntary Petition

For filing a Chapter 7 or Chapter 13 bankruptcy petition you need to fill in Form B1, that is, the Voluntary Petition.

Social Security Number

You also have to fill in Form B21 that will be a Statement of your Social Security Number.

Schedules

Next are the forms that declare your property and exempt property. Of these Form B6 is a Summary and Declaration of the Schedules; Form B6A or Schedule A declares Real Property; Form B6B, which is Schedule B, declares Personal Property; and Form B6C, also called Schedule C, declares Property Claimed as Exempt from the bankruptcy proceedings.

List of Creditors

You also have forms to furnish details of creditors. Form B6D is Schedule D, and it is a list of Creditors Holding Secured Claims. Form B6E, referred to as Schedule E, is a list of Creditors Holding Unsecured Priority Claims. Form B6F, known as Schedule F, is a list of Creditors Holding Unsecured Non-priority Claims. Form B6G, or Schedule G, is a list of Executory Contracts and Unexpired Leases.

List of Debtors

Besides, there are forms for furnishing details of co-debtors. Form B6H, or Schedule H, is a list of Co-Debtors. Form B6I, commonly known as Schedule I, has information regarding Current Income of Individual Debtor(s); and Form B6J, also called Schedule J, has information regarding Current Expenditures of Individual Debtor(s).

Other Forms

Apart from these, you need to fill in Form B6, or the Declaration Concerning Debtor’s Schedules; Form B7 that contains the Statement of Financial Affairs; Form B8 to provide the Chapter 7 Individual Debtor’s Statement of Intention; Form B22A that has the Chapter 7 Statement of Current Monthly Income & Means Test; Form B23, which is essentially the Debtor’s Certification of Completion of Financial Management Course; Form B201, which is called the Notice to Individual Consumer Debtor; Form B240 or the Reaffirmation Agreement with Order, and finally, the Verification of Creditor Matrix.

Proper Filling Essential

As the forms for both Chapter 7 and Chapter 13 bankruptcy are the same, they have to be filled in properly for you to qualify for the correct bankruptcy chapter. While Chapter 7 bankruptcy discharges almost all your debts, Chapter 13 bankruptcy reschedules your debts so that it is easier for you to pay back your creditors. Essentially, it gives you more time to tackle your debts.

Getting a Lawyer

As the state laws on bankruptcy differ, it is vital that you take the services of a good lawyer who is familiar with the state bankruptcy laws to represent you before the bankruptcy court. Such a lawyer will be able to advice you on the steps you need to take to make the best of your current financial situation. A good lawyer will also help you fill in all the essential forms correctly. This is an absolute must for the court and trustee to consider your application positively.

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