Which Creditors Do I Need to List in My Personal Bankruptcy Schedules?
Are you planning to file for personal bankruptcy in South Florida under Chapter 7 or Chapter 13? If so, you probably have a wide range of questions about the documents you will need to provide to the bankruptcy court, and the forms and other materials that you will need to complete as part of your bankruptcy filing. One question you might have is this: which creditors do I need to list in my personal bankruptcy schedules? The short answer is all of them, but the longer answer can be slightly more complicated depending on the type of creditor and type of debt, and other complicating factors such as debts that you want to affirm versus debts that you want to have discharged, as well as debts that are listed as “exceptions to discharge” under the US Bankruptcy Code.
Our South Florida bankruptcy attorneys are here to assist you. Consider the following general information about creditor information in your personal bankruptcy case, and then reach out to our firm to begin working on the details of your filing.
Schedule D (Form B 106D) for Creditors Who Hold Claims Secured By Property
The first schedule, or form, you will need to fill out fully and in detail involves identifying all of your secured creditors. A secured creditor, as the title of the form indicates, are those creditors who currently hold claims secured by property. For example, these creditors include mortgage lenders, motor vehicle creditors, and any other creditor to whom you owe a debt that is secured by property (i.e., property that could be repossessed if you do not pay).
On this schedule, you will need to provide detailed information about the creditor’s name and contact information, the secured property, lien details, and more. All secured creditors must be identified, regardless of whether you hope to have the debt discharged, you plan to repay the debt in full in a reorganization bankruptcy, or you want to reaffirm the debt in a liquidation bankruptcy.
Schedule E/F (Form B 106E/F) for Creditors Who Have Unsecured Claims
This schedule will require detailed information about all other creditors — i.e., all of your unsecured creditors, including creditors for both priority and nonpriority debts — to whom you owe money. Even if the unsecured debt you owe to a particular is an “exception to discharge,” or even if you want to reaffirm the debt with that creditor in a liquidation bankruptcy, for example, the creditor and the associated debt must be listed.
The form distinguishes between creditors with priority unsecured claims and creditors with non-priority claims, so it will be essential to discuss the details of your creditors and types of debt with a lawyer as you complete this schedule.
Contact Our West Palm Beach Bankruptcy Lawyers Today
It is crucial to ensure that all of your creditors are listed, and accurately, on the required schedules that you submit with your bankruptcy petition. Filling out the required schedules is something that your lawyer can assist you with, making certain that all information is contained in the appropriate forms and identified accurately. In the meantime, you can prepare for this process by gathering all relevant documentation about your debts, and the creditors who own those debts, to ensure that your bankruptcy filing is accurate and complete. Contact one of the experienced West Palm Beach bankruptcy attorneys at Kelley Kaplan Delaney & Eller, PLLC to have any of your questions answered and to set up a time to begin working on your bankruptcy case with our firm.
Sources:
law.cornell.edu/uscode/text/11
uscourts.gov/forms-rules/forms/bankruptcy-forms
