Statement of Financial Affairs.

Every Chapter 7 debtor is required to file a statement of the debtor’s financial affairs. 11 U.S.C. § 521(a)(1)(B)(iii); Bankruptcy Rule 1007(b)(1)(D). Like the Statement of Intent, the Bankruptcy Rules requires a debtor to use a specific national form prescribed by the Judicial Conference of the United States when describing the debtor’s financial affairs. Bankruptcy Rules 1007(b)(1) & 9009(a). These rules are strictly enforced. The statement’s form may not be changed as to affect wording or the order of presenting information. Id.

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Attorney Bob Schaller

Bankruptcy/Tax Attorney & Registered CPA

Bob has practiced law for more than 35 years and filed more than 3,000 bankruptcy cases. He has argued bankruptcy cases before the U.S. Court of Appeals, U.S. District Court, and U.S. Bankruptcy Court. He has authored 22 books including the 6-volume "Bankruptcy MasterClass Practice System & Toolkit."