Bankruptcy Schedules D Through F

When an individual debtor files for Chapter 7 or Chapter 13 bankruptcy in the Oak Park area, they will need to complete a number of “schedules” in addition to the initial bankruptcy filing. Schedules are not timelines or outlines, or plans or procedures, as you might expect from the name. Rather, bankruptcy schedules are documents that provide the bankruptcy court with detailed information about your personal assets, debts, and other related information. The debtor must complete certain schedules (usually with assistance from a bankruptcy lawyer). The specific information required for each bankruptcy schedule is particular, and there are important requirements to consider. In many cases, failing to provide information in a bankruptcy schedule can complicate your case, so it is critical to ensure that you have the schedules filled out correctly.

Schedules A through C are documents in which a debtor provides information about their personal property (including real property, tangible property, and intangible property), as well as exemptions they are claiming under Illinois law. Today, we are going to provide you with more information about additional schedules, including Schedules D through F.

Schedule D

This document, Schedule D, is one in which you will provide information about secured creditors. In other words, this is the place where you identify creditors associated with your secured debt. Remember that secured debt is any debt where the creditor has an interest in your property, such as a home with a mortgage, or a motor vehicle with a loan. You will need to identify the creditor’s name and contact information, as well as details about the debt including the amount owed and the date you originally incurred that debt.

Schedule E

Schedule E is similar to Schedule D but is a document where you list your unsecured creditors with priority claims. Priority claims are those that take precedence over non-priority claims (which we will discuss below). Priority claims are associated with unsecured debt, but they must be paid next in order of priority after secured debts. Examples of priority debt, according to the Cornell Legal Information Institute, include child support, spousal support or maintenance, or certain fees or fines.

Schedule F

Schedule F is similar to Schedule D and Schedule E, but it is for unsecured creditors with non-priority debt. Here, you will list creditors to be paid last in order of priority. Common examples of non-priority debt include creditors associated with medical debt and credit card debt.

Contact an Oak Park Bankruptcy Attorney

Are you considering personal bankruptcy but you have questions or concerns? The bankruptcy process is complex, and you should know that you are not alone. We know the bankruptcy process can be daunting, but our firm is here to help you. We can assist you with identifying the schedules you must complete in your bankruptcy case in addition to any other requirements, and we will work with you to ensure that you meet all requirements under the Bankruptcy Code. Do not hesitate to get in touch with an experienced consumer bankruptcy lawyer in Oak Park who can assist you with all aspects of your Chapter 7 or Chapter 13 bankruptcy case. Contact the Emerson Law Firm to learn more.



See Related Blog Posts:

Getting Relief: Answers to Your Top Five Bankruptcy Concerns

Can Chapter 13 Bankruptcy Save My Home?

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