A debtor files his bankruptcy case with the bankruptcy court serving his district in his state of residence. Along with a bankruptcy petition, the debtor must file bankruptcy forms. These forms apprise the bankruptcy court of the real and personal property the debtor owns as well as the secured and unsecured creditors the debtor owes. The debtor should be careful to list all of his creditors so that they can be considered in his bankruptcy case.
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A debtor filing personal bankruptcy either files for Chapter 7 or Chapter 13 bankruptcy. With both chapters of bankruptcy, the debtor should file Schedules A-J with the bankruptcy court. In Schedule A, the debtor lists real property. Schedule B is designated for the debtor's personal property. The debtor lists exempt property in Schedule C. The debtor lists creditors in Schedules D-F. Schedule G is for the debtor's unexpired leases and executory contracts. If the debtor has any co-debtors, he lists them on Schedule F, and the debtor's income and expenses are listed on Schedules H and J.
In Schedules D-F, the debtor should include the creditors' names, mailing addresses and the account number the creditor uses for the debtor. On Schedule D, the debtor should list any judgment liens, garnishments, statutory liens, mortgages, deeds of trust and other security interests. The debtor should list priority unsecured claims on Schedule E and non-priority unsecured claims on Schedule F. When administrating the debtor's case, the bankruptcy trustee will takes these creditors into account.
When a debtor files a Chapter 7 bankruptcy case, a bankruptcy trustee attempts to sell the debtor's property and uses the proceeds to pay the debtor's creditors. If the debtor forgets to list a creditor on one of the schedules, and the trustee has proceeds to distribute to the debtor's creditors, the forgotten creditor will not get paid. More importantly, if the debtor forgot to list a creditor, when the debtor receives a discharge of her debts, the debt to this particular creditor will not be discharged. As a result, the debtor will still be liable for that debt after her other debts that were included in her bankruptcy case have been forgiven.
Likewise, if a debtor forgets to list a creditor on his schedules in a Chapter 13 case, the trustee will not pay the creditor, and the debtor may receive a discharge without having paid this creditor. The debtor will be liable for the debt after his other debts have been discharged. The debtor may have time to include the creditor in his bankruptcy case, given that his case will last for three or five years. If the debtor figures out that he has forgotten to include the creditor on his schedules, he may have time to make an amendment. The debtor can modify his Chapter 13 debt repayment plan before or after the plan has been confirmed.
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