You have decided that filing bankruptcy is the best option for you. Now comes the tedious part of filling out the required forms.
Bankruptcy paperwork can be confusing for many people. There is so much information to provide. One mistake could delay your bankruptcy court proceedings.
In the initial stages of filing for bankruptcy? Be sure you have the correct bankruptcy paperwork.
Keep reading to ensure you have everything you need to file.
Bankruptcy paperwork you’ll need to file
There are several forms you will need to file at an Arizona courthouse. Each of these forms make up the bankruptcy petition.
Read on to learn about each of these forms.
The first form you will need is Form B 101. This form is titled “Voluntary Petition for Individuals Filing for Bankruptcy.” The form requires specific information about you, including:
- Employer information
- Past bankruptcy filings
- Business assets
- Types of debts and creditors
Here are the schedules you will need to include in your petition.
Schedule A/B: Property – This form explains all owned property and other assets. This includes bank and retirement accounts.
Schedule C: The Property You Claim as Exempt – If you are filing Chapter 7 bankruptcy, you’ll provide exempt assets. In other words, assets that you don’t want to be liquidated.
Schedule D: Creditors Who Have Claims Secured by Property – This form lists any creditors who have property as collateral. A home with a mortgage is a common example.
Schedule E/F: Creditors Who Have Unsecured Claims – This form lists all other unsecured debts, such as credit cards and personal loans.
Schedule G: Executory Contracts and Unexpired Leases – This form lists any executory contracts and unexpired leases that you are responsible for.
Schedule H: Codebtors – If any debts have codebtors, they must be listed on this form.
Schedule I: Your Income – This form offers a more in-depth listing of employment and income information.
Schedule J: Your Expenses – This form provides the court details of your monthly budget. All monthly expenditures should be listed.
These forms must also be included in your bankruptcy petition. These forms include:
- Summary of Your Assets and Liabilities and Certain Statistical Information
- Declaration About an Individual Debtor’s Schedules
- Statement of Financial Affairs for Individuals Filing for Bankruptcy
- Statement of Intention for Individuals Filing under Chapter 7
- Chapter 7 Statement of Your Current Monthly Income
- Statement About Your Social Security Numbers
With so many forms to fill out, it’s easy to get confused. If you want to ensure a proper bankruptcy filing, consider working with a professional!
Let a professional handle your bankruptcy
Going through bankruptcy on your own is hard. With so much paperwork and so many legal terms, it’s easy to get lost.
If you’re looking for help to guide you through the process, we can help. With a free consultation, we can help determine your next steps.
AZBK Lawyers can help get you back on your feet with a fresh start. Don’t let the stress of bankruptcy overwhelm you. Instead, consult with a proven bankruptcy lawyer. Contact us today to get started.