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Bankruptcy Basics: Questionnaire Formats Available

This is found under “Practice Tools” in the companion materials accompanying the digital version of this guide as both an Adobe Acrobat (PDF) and a Microsoft Word file. There is also a available in both PDF and Word formats. Use a PDF version if you want to reprint the questionnaire, and a Word version if you want to edit the document using your word-processing program.

Bankruptcy Basics: Handout 2—Your Legal Rights During and After Bankruptcy: Making the Most of Your Bankruptcy Discharge

Bankruptcy is a choice that may help if you are facing serious financial problems. You may be able to cancel your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help with some financial problems, but does not guarantee you will avoid financial problems in the future. If you choose bankruptcy, you should take advantage of the fresh start it offers and then make careful decisions about future borrowing and credit, so you won’t ever need to file bankruptcy again!

How Long Will Bankruptcy Stay on My Credit Report?

Consumer Bankruptcy Law and Practice: 9.5 Notice of the Automatic Stay

Creditors are notified officially of the automatic stay in the notice of the meeting of creditors.300 Unfortunately, from the debtor’s perspective, this notice is not always adequate for several reasons. First, the notice may not be mailed until weeks after the petition is filed. Second, when it is mailed, it goes only to creditors listed in the schedules or statement.

Bankruptcy Basics: Overview

Bankruptcy clients, often because of their precarious financial situation, fall victim to many consumer scams and abusive lending and collection practices. Laws that protect consumers from these practices and remedies that may be pursued by attorneys in enforcing these laws are covered extensively in NCLC’s Consumer Law Practice Series. This Chapter provides an overview of the dispute and discovery rights found within many federal and state consumer protection statutes.

Bankruptcy Basics: Overview

Each bankruptcy case is in some ways unique. Determining the best course of action for any individual requires a thorough understanding of that client’s specific financial situation. Therefore, the first step in preparing a bankruptcy case is to gather the necessary information. After the information is collected, the facts can be analyzed to determine whether bankruptcy is the best option for the client or whether other possible avenues for relief are available.

Bankruptcy Basics: Overview

Once it has been decided that bankruptcy is appropriate in a particular case, most of the remaining work required to initiate the case is relatively routine. A good deal of it involves the preparation of the necessary papers for the initial filing. This Chapter uses a sample case to illustrate how to prepare the basic forms used in a typical chapter 7 bankruptcy case. Portions of the forms are reprinted in this Chapter to highlight particular issues.

Bankruptcy Basics: E.4 Bankruptcy Court Miscellaneous Fee Schedule

The following miscellaneous fees schedule was issued by the Judicial Conference of the United States in accordance with 28 U.S.C. § 1930(b). It is effective as of December 1, 2020.

Bankruptcy Court Miscellaneous Fee Schedule (28 U.S.C. § 1930)

The fees included in the Bankruptcy Court Miscellaneous Fee Schedule are to be charged for services provided by the bankruptcy courts.

Bankruptcy Basics: In General.

The Bankruptcy Code requires debtors in some circumstances to produce various tax returns. Sometimes these tax returns must be filed with the court. Fortunately, many of the tax return requirements are imposed only if an interested party or the court makes a formal request. Such requests are not generally made in routine cases. The one requirement that all debtors must comply with—providing a copy of the debtor’s most recent tax return to the trustee before the meeting of creditors—is usually satisfied without much difficulty.

Bankruptcy Basics: Providing Tax Returns to Creditors.

If a creditor makes a timely request for a tax return or transcript that is to be provided to the trustee, the debtor must give a copy to the creditor at the same time it is provided to the trustee. 11 U.S.C. § 521(e)(2)(A)(ii). Bankruptcy Rule 4002(b)(4) states that the debtor must comply with a creditor’s request for a tax return if the request is made at least fourteen days before the first date set for the meeting of creditors.

Bankruptcy Basics: Filing Tax Returns with the Court.

If a proper request is made the debtor may also be required to file with the court copies of tax returns (or transcripts) that are filed with the IRS during the bankruptcy case or for tax years ending during the case. 11 U.S.C. § 521(f)(1)–(3). At the request of the court, the United States trustee, or a party in interest an individual debtor must file with the court:

Bankruptcy Basics: E.3 Bankruptcy Policies

Introductory Materials

Guide to Judiciary Policy

Vol. 4: Court and Case Management

Ch. 8: Bankruptcy Case Policies

§ 810 Overview

§ 815 Applicability

§ 820 Chapter 7 Fee Waiver Procedures

§ 820.10 Filing Fee Waiver Application and Initiation of the Chapter 7 Case

§ 820.20 Judicial Determination of Filing Fee Waiver Applications

Bankruptcy Basics: Privacy Concerns.

For safeguarding the confidentiality of tax information, Bankruptcy Rule 4002(b)(5) provides that tax returns or transcripts provided to the trustee, or to creditors who request them, are subject to the procedures promulgated by the Director of the Administrative Office.

Bankruptcy Basics: Dismissal for Failure to Provide Tax Returns.

If the debtor fails to provide a required return or transcript to the trustee or to a creditor who timely requests it, the case may be dismissed, unless the debtor shows that such failure was due to circumstances beyond the debtor’s control. 11 U.S.C. § 521(e)(2)(B). Dismissal under section 521(e)(2) is not automatic. An interested party must file a motion seeking dismissal.

Bankruptcy Basics: Dealing with Secured Debt

In chapter 7 cases the debtor is required to prepare and file a statement of intention (Official Form 108) regarding property securing debts and leased personal property within thirty days after the petition date, or on or before the date of the meeting of creditors, whichever is earlier. The court, pursuant to section 521(a)(2)(A), may extend the deadline for cause. After the meeting of creditors, the debtor must perform the stated intention. Section 521(a)(2)(B) states that the debtor must perform the intention within thirty days after the first date set for the meeting of creditors.

Bankruptcy Basics: Filing Motions to Avoid Liens

Section 522(f)(1) permits the debtor to avoid (1) judicial liens on any property claimed as exempt, and (2) nonpossessory, nonpurchase-money security interests in household goods and certain other property claimed as exempt. This section is discussed in Chapter 8, infra.

Bankruptcy Basics: Introduction

This report has been prepared by Fellows of the American College of Bankruptcy (the “College”). The College and its Fellows do not warrant or represent the accuracy or completeness of any of the information, or any of the recommendations, contained in this report. The recipient of this report, by receipt, acknowledges the foregoing.

Bankruptcy Basics: Review Postpetition, Mortgage-Related Notices in Chapter 13 Cases

Effective December 1, 2011, in chapter 13 cases, creditors must provide debtors and their attorneys notices of changes in required payments and notices of fees, expenses, and charges if the creditors’ claim is secured by a security interest in the debtor’s principal residence and the debtor is curing a default on the mortgage loan through the plan. See Bankruptcy Rule 3002.1. Notices of payment changes must be sent at least twenty-one days before a payment in the new amount is due.