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Bankruptcy Basics: § 830.50 Required Redaction of Debtor Tax Information

(a) The following redaction requirements apply to all tax information provided in accordance with section 521 of the Bankruptcy Code.

(b) Debtors providing tax information under 11 U.S.C. § 521 should redact personal information according to the criteria set forth in Fed. R. Bankr. P. 9037. A debtor should therefore redact personal identifiers in any tax information required to be filed with the court or provided to the trustee or creditor(s), in either electronic or paper form, as follows:

Fair Credit Reporting: L.1 Introduction

This appendix summarizes the enforcement orders found online as companion material to this treatise that have been secured by law enforcement agencies against consumer reporting agencies (CRAs), resellers, users, furnishers, and identity thieves. The major enforcement orders against the three nationwide CRAs are available online as companion material to this treatise, under “Primary Sources,” as are important examples of the other categories of enforcement orders.

Bankruptcy Basics: Introduction

Bankruptcy is a right provided by law to people who are deeply in debt and in need of a fresh start. Bankruptcy will discharge many of your debts and you will not have to pay them, except that mortgages and other liens may still need to be paid if you want to keep the secured property.

The law allows you to keep some money and most types of necessary property in bankruptcy. To receive this protection, it is necessary that you list all items asked for in the following questions. If you do not list an item, that item will not be protected and may be sold in your bankruptcy case.

Bankruptcy Basics: Handout 1—Answers to Common Bankruptcy Questions

A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. This brochure cannot explain every aspect of the bankruptcy process. If you still have questions after reading it, you should speak with an attorney familiar with bankruptcy.

What Is Bankruptcy?

Bankruptcy Basics: Handout 3—Using Credit Wisely After Bankruptcy

Beware of Credit Offers Aimed at Recent Bankruptcy Filers

“Disguised” Reaffirmation Agreement

Carefully read any credit card or other credit offer from a company that claims to represent a lender you listed in your bankruptcy or own a debt you discharged. This offer may be from a debt collection company that is trying to trick you into reaffirming a debt. The fine print of the credit offer or agreement will likely say that you will get new credit, but only if some or all of the balance from the discharged debt is added to the new account.

Bankruptcy Basics: Schedule H

Schedule H is a list of codebtors, other than a spouse in a joint case, who are obligated on any of the debtor’s debts.

Bankruptcy Basics: Official Form 106 Instructions

Schedule A/B: Property (Official Form 106A/B)

Schedule A/B: Property (Official Form 106A/B) lists property interests that are involved in a bankruptcy case. All individuals filing for bankruptcy must list everything they own or have a legal or equitable interest in. Legal or equitable interest is a broad term and includes all kinds of property interests in both tangible and intangible property, whether or not anyone else has an interest in that property.

Bankruptcy Basics: 2015 Advisory Committee Note on Form 106

The schedules to be used in cases of individual debtors are revised as part of the Forms Modernization Project, making them easier to read and, as a result, likely to generate more complete and accurate responses. The goals of the Forms Modernization Project include improving the interface between technology and the forms so as to increase efficiency and reduce the need to produce the same information in multiple formats. Therefore, many of the open-ended questions and multiple-part instructions have been replaced with more specific questions.

Bankruptcy Basics: 2013 Advisory Committee Note on Form 6

Schedule I: Your Income (Official Form 6I) and Schedule J: Your Expenses (Official Form 6J), which apply only in cases of individual debtors, have been revised as part of the Forms Modernization Project, making the forms easier to read and, as a result, likely to generate more complete and accurate responses.

Bankruptcy Basics: 2005–2007 Advisory Committee Note on Form 6

The forms of the Schedules of Assets and Liabilities are amended to implement the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Pub. L. No. 109-8, 119 Stat. 23, (April 20, 2005) (“BAPCPA”). An amendment that directs the debtor to avoid disclosing the name and address of any minor child occurs in Schedules B, D, E, F, G, and H in conformity with § 112 which was added to the Code in 2005.

Bankruptcy Basics: Annotations to Completed Sample Form 107

1. The statement of financial affairs (Official Form 107) is required to be completed by all individual debtors. 11 U.S.C. § 521(a)(1)(B)(iii); Fed. R. Bankr. P. 1007(b)(1). The form contains detailed questions that must be answered, but it is relatively simple to fill out. It is important to pay careful attention to the specific time period requested, as some questions ask for information about several different time periods. Most of the questions include a box labeled “no” which should be checked if that is the appropriate response to the given question.

Bankruptcy Basics: Official Form 107 Instructions

Statement of Financial Affairs for Individuals Filing for Bankruptcy (Official Form 107)

Your Statement of Financial Affairs for Individuals Filing for Bankruptcy, provides a summary of your financial history over certain periods of time before you file for bankruptcy. If you are an individual in a bankruptcy case, you must fill out this statement. 11 U.S.C. § 521(a) and Bankruptcy Rule 1007(b)(1).

Bankruptcy Basics: 2015 Advisory Committee Note on Form 107

Official Form 107, Statement of Financial Affairs for Individuals Filing for Bankruptcy, which applies only in cases of individual debtors, is revised in its entirety as part of the Forms Modernization Project, making it easier to read and, as a result, likely to generate more complete and accurate responses. The goals of the Forms Modernization Project include improving the interface between technology and the forms so as to increase efficiency and reduce the need to produce the same information in multiple formats.

Bankruptcy Basics: 2012 Advisory Committee Note on Form 7

The definition of “insider” is amended to conform to the statutory definition of the term. See 11 U.S.C. § 101(31). Under the Code definition, ownership of 5% or more of the voting shares of a corporate debtor does not automatically make the owner an insider of the corporation. And in order to be an affiliate of the debtor and an insider on that basis, ownership or control of at least 20% of the outstanding voting securities of the debtor is required. 11 U.S.C. § 101(2). The phrase “any owner of 5% or more of the voting or equity securities” is therefore deleted.

Bankruptcy Basics: 2005–2007 Advisory Committee Note on Form 7

The form is amended in several ways to reflect changes in the Bankruptcy Code made by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Pub. L. No. 109-8, 119 Stat. 23 (April 20, 2005). A new sentence in the introduction advises the debtor not to disclose the name and address of any minor child in conformity with § 112, which was added to the Code by the 2005 Act.

Bankruptcy Basics: About the Form

This is another document required in chapter 7 cases (but not in chapter 13 cases). 11 U.S.C. § 521(a)(2)(A). It states the intentions of the debtor, as of the date of its filing, with regard to any property, real or personal, that serves as collateral for a debt. This form also requires the debtor to state the debtor’s intentions with respect to leases of personal property.

Bankruptcy Basics: Annotations to Completed Sample Form 108

1. Another required document in chapter 7 cases (but not in chapter 13 cases) is the Statement of Intention (Official Form 108). 11 U.S.C. § 521(a)(2)(A); Fed. R. Bankr. P. 1007(b)(2). This document must state certain intentions of the debtor, as of the date of its filing, with regard to any property, real or personal, that serves as collateral for a debt. In addition this form requires the debtor to state the debtor’s intentions with respect to leases of personal property.

Bankruptcy Basics: Official Form 108 Instructions

Statement of Intention for Individuals Filing Under Chapter 7 (Official Form 108)

If you are filing under chapter 11, 12, or 13, do not fill out this form.

If you are an individual filing under chapter 7, you must fill out the Statement of Intention for Individuals Filing Under Chapter 7 (Official Form 108) if: