What Are Chapter 7 Bankruptcy Schedules?

Are you currently considering a personal bankruptcy filing in Florida? If so, you might have done some initial research to learn that you will be responsible for submitting various bankruptcy “schedules” in connection with your bankruptcy petition. You are likely wondering: what are bankruptcy schedules, and what needs to go into them? In short, bankruptcy schedules are detailed forms that must be filled out and filed in a timely manner, either at the same time as your bankruptcy petition or within 14 days of filing your bankruptcy petition. Given the detailed nature of these forms, it is important to seek legal help to ensure that everything is completed accurately. Our St. Petersburg bankruptcy attorney can explain in more detail.

Schedule A/B: Property 

These schedules include your real property (such as your home) in Schedule A, and your personal property (such as your accounts, your furniture, and other personal items) in Schedule B.

Schedule C: The Property You Claim as Exempt 

This schedule will include all of your assets that are exempt and that you are claiming — and thus will not be liquidated — based on the exemptions set forth in the Florida Statutes.

Schedule D: Creditors Who Hold Claims Secured By Property 

This is a list of your secured creditors, such as your mortgage servicer and your auto loan lender.

Schedule E/F: Creditors Who Have Unsecured Claims 

Both of these schedules are unsecured creditors, with Schedule E for priority debts and Schedule F for nonpriority debts (typically credit card debt, medical debt, personal loan debt, and similar).

Schedule G: Executory Contracts and Unexpired Leases

 This schedule asks for executory contracts and leases, and it may not apply to all bankruptcy filers.

Schedule H: Your Codebtors 

If you have a codebtor, such as someone who cosigned a loan or a party with whom you share a credit card, you will identify them in this schedule.

Schedule I: Your Income

Your income includes your regular wages as well as any other income from family support, public benefits, and more.

Schedule J: Your Expenses 

All of your monthly expenses will be listed in this schedule.

Schedule J-2: Expenses for Separate Household of Debtor 2

 This schedule applies when a married couple is filing jointly for bankruptcy but the parties have separate residencies (such as following a separation).

The schedules discussed above are just a portion of the official forms that must be completed and filed in an individual bankruptcy case. For a Chapter 7 case, there are numerous additional forms, including multiple “means test” forms that you must complete to show your eligibility for this type of bankruptcy, as well as additional financial forms and documentation.

Contact Our St. Petersburg Bankruptcy Lawyers for Assistance 

If you are thinking about filing for bankruptcy in Southwest Florida, or if you have already made up your mind to file for bankruptcy, it is important to have a lawyer on your side throughout this complex process. As we have discussed above, there are a number of schedules that you will be responsible for filling out and filing in connection with your bankruptcy petition in addition to meeting numerous other requirements. Even in the least complicated bankruptcy cases, the process itself is still complex, and there is substantial room for error. To ensure that your case is filed with all appropriate materials so that you can be eligible for a discharge, you should get in touch with one of the experienced St. Petersburg bankruptcy attorneys at the Law Offices of Stephen Barszcz for assistance with your bankruptcy case.

Sources:

uscourts.gov/forms-rules/forms/bankruptcy-forms

uscourts.gov/sites/default/files/b_6_summary_0.pdf