ABA Family Legal Guide

Consumer Bankruptcy

Straight Bankruptcy: Chapter 7

Chapter 7 Defined

What are all these forms I am expected to fill out?

When you file a petition for bankruptcy, you have to fill out and file many forms. Many of these are referred to as "schedules," which basically means a written list or inventory. These forms include:

• A list of creditors
• A schedule of assets and liabilities
• A schedule of current income and expenditures
• A statement of your financial affairs
• Copies of all payment advances or other evidence of payment received within 60 days before the date of the bankruptcy filing
• A statement of your monthly net income, itemized to show how the amount is calculated
• A statement disclosing any reasonably anticipated increase in your income or expenditures over the twelve-­month period following the date of the bankruptcy filing
• A certificate from an approved nonprofit credit-­counseling agency

If requested by a creditor or the trustee, you will also have to provide tax returns and a photo ID. If you are self-­employed, a statement of your business affairs must also be included.

All of these forms will provide the bankruptcy court and parties in interest—that is, your creditors and the trustee—with a complete picture of what is called your bankruptcy estate.