New Bankruptcy Forms Effective Dec. 1, 2015: Part II

• Published in: American Bankruptcy Institute journal Vol. 35; no. 1; p. 20
• Main Author: Thurston, Susan M
• Format: Journal Article
• Language: English
• Published: Alexandria American Bankruptcy Institute 01.01.2016
• Subjects: Bankruptcy claims; Bankruptcy reorganization; Federal Rules of Bankruptcy Procedure; Fees & charges; Modernization; Personal bankruptcy; Petitions; Safe deposit boxes; Series & special reports; United States > US
• ISSN: 1931-7522

Part II of a series about the Official Bankruptcy Forms that just took effect is presented. Official Form 107 (Statement of Financial Affairs for Individuals Filing for Bankruptcy) has been revised in its entirety and no longer requires information in chapter 12 or 13 cases about a nonfiling spouse's general financial affairs. The revised form is divided into 11 parts and eliminates questions unrelated to individual debtors. Other official forms for individual debtors not otherwise covered to date include Form 108 (Statement of Intention of Individuals Filing under Chapter 7), Form 119 (Bankruptcy Petition Preparer's Notice, Declaration and Signature) and Form 121 (Statement About Your Social Security Numbers). Three other frequently used official forms have changed: the discharge order, proof-of-claim form and mortgage proof-of-claim attachment. While the forms-modernization project has been a time-consuming, multi-year effort, having streamlined and easy-to-understand forms with a uniform numbering system should serve the bankruptcy community well in the years ahead.