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bankruptcy

NJ Bankruptcy: The Required Forms

On Behalf of Veitengruber Law | Jun 14,2016

In our last post, we talked at length about the Schedule I form. Our reason for discussing one document in such detail is because Schedule I is where many debtors make significant errors that result in their NJ bankruptcy case being thrown out. To someone who has put all of their hopes into discharging their debts, bankruptcy dismissal can be a heartbreaking defeat. However, along with the Schedule I form comes a plethora of other paperwork that is required for all bankruptcy types. On the very day that you file for bankruptcy, you must provide the court with a number of documents. These include: Voluntary Petition for Individuals Filing for Bankruptcy (Form #101) Statement About Your Social Security Numbers (Form #121) Creditor Matrix/Creditor Mailing List Credit Counseling Certificate Initial Statement About an Eviction Judgment Against You (Form #101A) Statement About Payment of an Eviction Judgment Against You (Form #101B) Bankruptcy Petition Preparer's Notice, Declaration & Signature (Form #119) Disclosure of Compensation of Bankruptcy Petition Preparer (Form #2800) Although the following forms can be filed within 14 days after your initial paperwork, it's best to file everything on Day 1, so that nothing is forgotten or late: Schedules of Assets and Liabilities (Form #106) with the following attachments:
  • Schedule A/B: Property (Form #106A/B)
  • Schedule C: The Property You Claim as Exempt (Form #106C)
  • Schedule D: Creditors Who Have Claims Secured by Your Property (Form #106D)
  • Schedule E/F: Creditors Who Have Unsecured Claims (Form #106E/F)
  • Schedule G: Executory Contracts and Unexpired Leases (Form #106G)
  • Schedule H: Your Codebtors (Form #106H)
  • Schedule I: Your Income (Form #106I)
  • Schedule J: Your Expenses (Form #106J)
  • Summary of Your Assets, Liabilities & Statistical Information (Form 106Sum)
  • Declaration About an Individual Debtor’s Schedules (Form #106Dec)
  • Statement of Financial Affairs for Individuals Filing for Bankruptcy (Form #107)
Additional forms required for chapter 7 debtors: Statement of Intention for Individuals Filing Under Chapter 7 (Form #108) Chapter 7 Statement of Your Current Monthly Income (Form #122A-1) If necessary, Chapter 7 Means Test Calculation (Form #122A-2) If necessary, Statement of Exemption from Presumption of Abuse Under § 707(b)(2) (Form #122A-1Supp) Additional forms required for chapter 13 debtors: Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period (Form #122C-1) Calculation of Your Disposable Income (if needed) [Form #122C-2] Chapter 13 Plan (Form #113, or local plan form) As you can see, filing for bankruptcy in New Jersey is no walk in the park! Getting rid of those debts that have been preventing you from moving forward in life does make all of this paperwork worth it; however, we advise all NJ debtors to work with a qualified bankruptcy attorney. Hesitation to hire a certified New Jersey bankruptcy attorney is understandable, especially when you're already struggling with money. What Veitengruber Law wants you to know is this: we are sympathetic to your situation and we DO NOT overcharge our clients. In fact, we will actually help you work out a payment plan for our own fees! By working with an experienced legal team, your paperwork is guaranteed to be error-free, on time, and without accidental bankruptcy fraud, which can happen when debtors fill out their own paperwork incorrectly. Beyond all of the forms, there is a lot to learn about the legal side of bankruptcy in order to file a successful case. Things like the means test, exemptions, trustee requirements, the 341 hearing, redemption, foreclosure (if applicable), tax information, child support/alimony obligations (if necessary), and landlord/tenant rules are all details that your attorney will be able to handle for you so that the outcome of your bankruptcy case is optimal. In addition to your attorney's wealth of knowledge regarding every step of the NJ bankruptcy process, he will also be able to work with you after your debt has been discharged (erased) to get your credit score back up where it belongs. Defaulting on debt(s) drops your score, as does filing for bankruptcy, but as soon as your debts are gone, you'll have nowhere to go but up!

Image credit: J.P. Robichaud

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