Version 15 Changelog

General Changes:

  • All Federal forms have been updated in compliance with the Court’s December 1, 2015 release.
  • The Voluntary Petition, Chapter 11 List of the 20 Largest Creditors, Schedules, and Statement of Financial Affairs have been split into two separate versions; one for Individuals, and one for Non-Individuals.
    • Schedules C, I, and J, as well as the Statement of Current Monthly Income, do not have Non-Individual versions; these forms are only intended for Individual filers.
    • Fields accepting a single Employer Identification Number have been standardized to the ##-####### format.
    • Fields accepting a single phone number have been standardized to the (###) ###-#### format. Please check to make sure all phone numbers are correct.

Voluntary Petition for Individuals Filing for Bankruptcy – Form 101:

  • The form now asks for any business names and Employer Identification Numbers the Debtor has used in the last eight years. It also asks for the name, address, and business type for any sole proprietorships the Debtors operate as individuals.
  • The form now requests both the reason the debtor and the joint debtor are filing in this domicile.
  • Total number of creditors now includes creditors listed on Forms 106D, 106E/F, and 106G.
  • Exhibit C, requesting information about any property the debtor owns or possesses which is alleged to pose a threat of imminent and identifiable harm to public health and safety, has been merged with the voluntary petition. The form now asks for more specific information about the property, including its full address, and will need to be re-entered.
  • Exhibit D, requesting the debtor’s credit counseling information, and Form 201B, certifying notice under § 342(b) of the Bankruptcy Code was provided to consumer debtors, have been merged into the voluntary petition.

List of Creditors Who Have the 20 Largest Unsecured Claims Against You and Are Not Insiders – Form 104

  • The form now specifies that claims by insiders should be excluded. Please exclude any claim by someone who qualifies as an insider under 11 U.S.C. § 101 using the form’s “exclude” option.
  • Creditor contact name and contact phone number must be provided.
  • The list of creditors must be regenerated each time a change is made.

Schedule A/B: Property – Form 106A/B:

  • Schedules A and B have been merged together; all property, real and personal, will be on this schedule.
  • Multiple categories of personal property have been merged, split, or added to the Schedule. While we have made our best effort to match existing categories with these new or modified categories, you will need to make sure that each item is categorized correctly.
    • Personal property has been divided into five general categories: Vehicles; personal and household items; financial assets; business-related property; and farm- and commercial fishing-related property. While there is still a category for property which does not fit into any of these general categories, please ensure that any property which does not fit into one of the specific categories of property is still sorted into the correct general category if applicable.
    • Electronics are now their own category distinct from household goods and furnishings.
    • Firearms are now their own category distinct from equipment for sports and hobbies.
    • Furs are now included with clothing instead of jewelry.
    • Animals have been split into farm animals and non-farm animals.
    • Investments and interests in business are now divided into bonds, mutual funds and publicly traded stocks, non-publicly traded stocks and interests in incorporated and unincorporated businesses, government and corporate bonds and other negotiable and non-negotiable instruments, and interests in partnerships and joint ventures.
    • Tax refunds owed to the debtor are now a separate category.
    • Rather than a description, the Court now requires specific information for several types of property. While the existing descriptions have been put into an appropriate location on the property, please update your descriptions for these categories of property to ensure they comply with the new forms.
      • Street address (or other description), city, county, state, and ZIP Code must be provided for real property, as well as type of property and the nature of ownership. Properties can also now be classified with multiple different types, rather than one single type.
      • Year, Make, and Model must be provided for vehicles. Additionally, mileage must be provided for cars, vans, trucks, tractors, sport utility vehicles, and motorcycles.
      • Institution name must be provided for deposits of money and retirement or pension accounts. Additionally, each deposit of money must be categorized as a checking account, savings account, certificate of deposit, or other financial account, and each retirement account must be categorized as a 401(k) or similar plan, pension plan, IRA, retirement account, Keogh, or other retirement account.
      • Institution or issuer name must be provided for bonds, mutual funds, or publically traded stocks.
      • The name of the entity, as well as the percentage of ownership, must be provided for non-publically traded stocks and interests in incorporated and unincorporated businesses, partnerships, and joint ventures.
      • Issuer name must be provided for government and corporate bonds and other negotiable and non-negotiable instruments.
      • Institution name or individual must be provided for any security deposits and prepayments. Additionally, the type of deposit or prepayment must be provided: Electric; gas; heating oil; security deposit on a rental unit; prepaid rent; telephone; water; rented furniture; or other deposits.
      • Institution name and description must be provided for annuities or interests in education IRAs.
      • Tax refunds owed to the debtor must be categorized as Federal, State, or Local tax refunds.
      • Family support owed to the debtor must be categorized as alimony, maintenance, support, divorce settlements, or property settlements.
      • Company name and beneficiary must be provided for insurance policies.
      • Ownership information only needs to be provided for real property and vehicles. However, rather than the original categories of “Husband, Wife, Joint, or Community,” the form asks whether each individual debtor, both debtors, or at least one of the debtors and another party has an interest in the property, and whether or not it is community property, and also asks for the current value of the entire property as well as the portion the debtors own. Please ensure all of these are correct.
      • Property location will no longer be provided for any item of personal property.

Schedule C: Exemptions – Form 106C:

  • Rather than providing a specific exemption value, you can now mark property as 100% exempt. While the program will still keep track of the total value entered for each exemption, if you select this option then Schedule C will display that the value exempted is “100% of fair market value, up to any applicable statutory limit”

Schedule D: Creditors Who Have Claims Secured by Property

  • The form now asks whether each individual debtor, both debtors, or at least one of the debtors and another party owes the debt, and whether or not it is a community debt. Please ensure that the correct party is listed for each debt owed.
  • Nature of the lien has been simplified; while the existing options still exist, the nature of lien is now categorized as based on an agreement made, a statutory lien, a judgment lien, or another type of lien. Please ensure the category is correct.

Schedule E/F: Creditors Who Have Unsecured Claims – Form 106E/F

  • Schedules E and F have been merged together; all unsecured debts, both priority and non-priority, will be on this schedule.
  • The form now asks whether each individual debtor, both debtors, or at least one of the debtors and another party owes the debt, and whether or not it is a community debt. Please ensure that the correct party is listed for each debt owed.
  • Nonpriority unsecured claims are now characterized as student loans, obligations arising out of a separation agreement or divorce that was not reported as a priority claim, debts to pension or profit-sharing plans or similar debts, and other types of debt. These categories determine how non-dischargeable debt will be totaled, so please ensure the correct category has been selected.

Schedule G – Executory Contracts and Unexpired Leases – Form 106G

  • Creditors listed on 106G can now have Codebtors.

Schedule H: Your Codebtors – Form 106H.

  • This form now asks whether the debtor lived in a community property state or territory within the last eight years, and whether or not the debtor’s spouse, former spouse, or legal equivalent lived with them at the time. If so, the spouse’s, former spouse’s, or legal equivalent’s name and address must be provided, as well as the community property state or territory in which they resided.

Summary of Your Assets and Liabilities and Certain Statistical Information – Form 106Sum

  • All fields in this form are automatically filled in using information from the Schedules and Statements.

Statement of Financial Affairs for Individuals Filing for Bankruptcy – Form 107

  • Multiple questions on the Statement of Financial Affairs have been merged, split, added, or removed from the form. While we have made our best efforts to match existing questions with these new or modified questions, please ensure that you have provided all information the court is asking.
    • Any payments or transfers on account of a debt within one year which benefitted an insider must now be listed, even if the payment was not to the insider.
    • Gifts and charitable contributions have been divided into two separate categories; additionally, gifts or donations made within two years need to be listed, but only if they are over $600.00 in aggregate value.
    • Payments related to debt counseling or bankruptcy have been divided into two separate categories.
    • The Court now requires more specific information for several questions on the statement of financial affairs. A quick summary of these changes have been provided below.
      • Income from employment from operating a business now asks whether the source of the Debtor’s income was from wages, commissions, bonuses, and tips, or operating a business.
      • If the debtor made payments to creditors within 90 days, payments to insiders within one year of filing, gifts or charitable donations within two year of filing, or payments or transfers related to bankruptcy or other assistance with creditors within one year of filing, all dates related to the payments, gifts, or transfers must be provided. Additionally, for payments to creditors within 90 days of filing or insiders within one year of filing, the debtor must provide the reason for the payment.
      • The court name and address must be provided for any lawsuits, court actions, or judicial or administrative proceedings which the debtor was involved in, whether or not they relate to any environmental law.
      • If any of the debtor’s property has been repossessed, foreclosed, garnished, attached, seized, or levied, the specific type of action (repossession, foreclosure, garnishment, or attachment, seizure, or levy) must be provided.
      • Transfers made within two years now require the description and value of the property transferred, but also property or payments received and debts paid in exchange.
      • Closed financial accounts now require the specific type of account: Checking, savings, money market, brokerage, or other.
      • In addition to safe deposit boxes, the form now asks for all storage units and warehouses where property was stored within one year prior to filing.
      • Information regarding a non-filing spouse no longer needs to be provided, even in Chapter 13 cases. Please ensure that the form only provides the requested information.

Statement of Your Current Monthly Income (122A-1, 122B, and 122C-1)

  • The program will no longer prompt you to update the means test for cases which have already been filed. If you want to update a case which has already been filed, please delete the filing date of the case, update the means test, and then re-enter the filing date.
  • Net income from operating a business, profession, or farm, and net income from rental and other real property requires division of gross receipts and expenses as well as net monthly income. If separated by percent, this will be calculated automatically.
  • Form 122B no longer asks for a non-filing spouse’s income, and no longer asks for marital adjustments to this income.

Voluntary Petition for Non-Individuals Filing for Bankruptcy – Form 201

  • The form now asks whether the debtor is an investment company, including hedge fund or pooled investment vehicle, or an investment advisor It also asks for the North American Industry Classification System (NAICS) 4-digit code that best describes the debtor.
  • Under Chapter 11 cases, the form now asks whether the debtor is required to file periodic reports with the Securities and Exchange Commission (and whether Form 201A will be attached) and whether or not the debtor is a shell company.
  • Exhibit C, requesting information about any property the debtor owns or possesses which is alleged to pose a threat of imminent and identifiable harm to public health and safety, has been merged with the voluntary petition. The form now asks for more specific information about the property, including its full address, what type of information is needed, and whether or not it is insured, and will need to be re-entered.

List of Creditors Who Have the 20 Largest Unsecured Claims and Are Not Insiders – Form 204

  • The form now specifies that claims by insiders should be excluded. Please exclude any claim by someone who qualifies as an insider under 11 U.S.C. § 101 using the form’s “exclude” option.
  • Creditor contact name and contact phone number must be provided. The list of creditors must be regenerated each time a change is made.
  • The list of creditors must be regenerated each time a change is made.

Schedule A/B: Property – Form 206A/B:

  • Schedules A and B have been merged together; all property, real and personal, will be on this schedule.
  • Multiple categories of personal property have been merged, split, or added to the Schedule. While we have made our best effort to match existing categories with these new or modified categories, you will need to make sure that each item is categorized correctly.
    • Personal property has been divided into nine general categories: Cash, cash equivalents, and financial assets; deposits and prepayments; accounts receivable; investments; inventory, farm and fishing-related assets; office furniture, fixtures, and equipment, and collectibles; machinery, equipment, and vehicles; intangibles and intellectual property; all other assets. Please ensure that any property which does not fit into one of the specific categories of property is still sorted into the correct general category.
    • Security deposits and prepayments have been divided into two separate categories.
    • Investments and interests in businesses are now divided into mutual funds or publicly traded stocks, non-publicly traded stock and interests in incorporated and unincorporated businesses, and government bonds, corporate bonds, and other negotiable and non-negotiable instruments.
    • Office furniture, office fixtures, and office equipment have been separated into three separate categories.
    • Notes receivable, tax refunds and unused net operating losses, and causes of actions are now separate categories, rather than being included in liquidated and/or contingent and unliquidated claims.
  • Rather than a description, the Court now requires specific information for several types of property. While the existing descriptions have been put into an appropriate location on the property, please update your descriptions for these categories of property to ensure they comply with the new forms.
    • Institution name, type of account, and last 4 digits of account number must be provided for checking, savings, money market, or financial brokerage accounts.
  • Name of fund or stock must be provided for mutual funds or publically-traded stocks.
  • Name of entity and percentage of ownership must be provided for incorporated and unincorporated businesses, including interests in LLCs, partnerships, or joint ventures.
  • Property location will no longer be provided for any item of personal property.
  • Property ownership information will no longer be provided for any item of property.
    • Inventory has been divided into raw materials, work in progress, finished goods, and other inventory and supplies. Additionally, the date of the last physical inventory must be provided.
  • Accounts receivable and notes receivable require the debtor to provide the face amount and doubtful or uncollectable amount to calculate the current value of the debtor’s interest.
  • In addition to providing the current value of the debtor’s ownership interest, most categories of property, including real property, now require the debtor’s method of determining that value, as well as the net book value of that asset, if available.
  • Most general categories of property, including real property, now ask for general information concerning the debtor’s assets which fall into that property, including whether any item has been appraised, whether any item is perishable, whether any item has been purchased within 20 days prior to filing, and whether a depreciation schedule is available for any item.

Schedule D: Creditors Who Have Claims Secured by Property – Form 206D

  • If multiple creditors now have an interest in the same property, the relative priority of all creditors with an interest in this priority must be provided. The program will automatically determine this priority list based on the order of the Creditors in the list of Creditors Holding Secured Claims, and will automatically alphabetize these creditors on the form itself.
  • The form now asks whether each creditor is an insider or related party.
  • The form no longer asks who owes the debt. Codebtors, if any, should be entered on Form 206H.

Schedule E/F:

  • The form now allows you to enter parties who need to be notified about unsecured claims who are not related to any existing creditor.
  • The form no longer asks who owes the debt. Codebtors, if any, should be entered on Form 206H.

Schedule G: Executory Creditors – Form 206G

  • The form now asks for information about how long the remaining term is on each lease.
  • Creditors listed on 206G can now have Codebtors

Summary of Your Assets and Liabilities and Certain Statistical Information – Form 206Sum

  • All fields in this form are automatically filled in using information from the Schedules and Statements.

Statement of Financial Affairs for Individuals Filing for Bankruptcy – Form 207

  • Multiple questions on the Statement of Financial Affairs have been merged, split, added, or removed from the form. While we have made our best efforts to match existing questions with these new or modified questions, please ensure that you have provided all information the court is asking.
    • Debtors primarily engaged in healthcare must provide information about their facilities, the location where patient records are stored and how the records are kept, and total number of patients in each facility.
    • If the debtor collects and retains personally identifiable relationship for customers, the debtor must state the nature of the information collected and retained, and whether a privacy policy exists.
    • If employees participated retirement, pension, or profit-sharing plans made available by the debtor as an employee benefit, the debtor must provide the name of the plan, EIN of the plan, and whether or not it has been terminated.
  • The Court now requires more specific information for several questions on the statement of financial affairs. A quick summary of these changes have been provided below.
    • Gross Revenue from business now asks whether the income was from operating a business, or another source.
    • If the debtor made payments to creditors within 90 days, payments to insiders within one year of filing, gifts or charitable donations within two year of filing, or payments or transfers related to bankruptcy or other assistance with creditors within one year of filing, all dates related to the payments, gifts, or transfers must be provided. Additionally, for payments to creditors within 90 days of filing or insiders within one year of filing, the debtor must provide the reason for the payment.
    • The court name and address must be provided for any lawsuits, court actions, or judicial or administrative proceedings which the debtor was involved in, whether or not they relate to any environmental law.
    • Closed financial accounts now require the specific type of account: Checking, savings, money market, brokerage, or other.
    • In addition to safe deposit boxes, the form now asks for all storage units and warehouses where property was stored within one year prior to filing.
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