Money & Debt

You have to get credit counseling within 180 days before filing for chapter 13 bankruptcy or your case will be dismissed. You can find a list of federally approved credit counseling agencies on the US Trustee's website. You may take the course in person, over the phone, or online, but you must do so before you file.

Once you finish the counseling, be sure to get a certificate to show you completed it. You should also make a copy for the court. You will certify to the court that you have completed the counseling course. You do this when completing the Voluntary Petition for Individuals Filing for Bankruptcy in Step 3.

You will need the following information to complete the required bankruptcy forms:

• Real estate you own,
• Personal property, like cash, clothing, household goods or cars, you own,
• Debts you owe, of any kind, 
• Recent payments made to creditors,
• Large gifts or donations to friends, family members or charities,
• The source, amount, and frequency of your income, and
• A detailed list of your monthly living expenses, such as food, clothing, shelter, utilities, taxes, transportation, and medicine.

You will need to give copies of certain items to the court and to any creditor who requests the information. You should make several copies of the following:

• Your last 60 days worth of pay stubs, and 
• Your most recent income tax return.

Fill out and sign the forms listed below. Make 3 copies of each form.

• B 101 - Voluntary Petition for Individuals Filing for Bankruptcy: Use this form to begin the process of filing for chapter 13 bankruptcy. Note: It is very important to list all of your creditors in the Voluntary Petition. This is so creditors can file a proof of claim. If the creditor does not get notice of the bankruptcy in time to file a proof of claim, the debt may not be wiped out.
• B 121 - Your Statement About Your Social Security Numbers: Use this form to tell the bankruptcy court what your social security number is.
• B 107 - Your Statement of Financial Affairs for Individuals Filing for Bankruptcy: Use this form to tell the court about your recent financial activities.
• B 2010 - Notice Required for Individuals Filing for Bankruptcy: Read and sign this form to tell the court that you understand your options for filing for bankruptcy.
• A copy of the Certificate of Counseling and a copy of the payment plan: Along with the Voluntary Petition, you must file a copy of the certificate and the payment plan from your counseling course. Official Form 113 - Chapter 13 Model Plan, an expandable, calculating form to create the payment plan required under Chapter 13.

Now that you have filled out your forms, take the following actions:

• File the forms with the bankruptcy clerk at the closest bankruptcy court where you live. You can find your closest bankruptcy court using the court locator.
• Pay the court filing fee or pay in installments. There are fees to file your bankruptcy forms. If you don't have the money to pay the fees all at once, file the Application for Individuals to Pay the Filing Fee in Installments that you filled out above. The court will review your application and decide whether you can pay the court fees in installments.

All forms are available on the US Courts website and the website for the local bankruptcy court.

Complete the following forms with the information you've gathered:

• B 106A/B Schedule A/B: Property: Tells the court about the property you own. 
• B 106C Schedule C: The Property You Claim as Exempt: Tells the court about the property you will claim as exempt. 
• B 106D Schedule D: Creditors Who Hold Claims Secured by Property: Tells the court about any secured creditors, such as a mortgage or car lender. 
• B 106E/F Schedule E/F: Creditors Who Have Unsecured Claims: Tells the court about any priority unsecured and general unsecured creditors. 
• B 106G Schedule G: Executory Contracts and Unexpired Leases: Tells the court about any outstanding contractual obligations or leases, such as an apartment lease. 
• B 106H Schedule H: Your Codebtors: Tells the court about other people who might be liable for your debts, such as cosigners. 
• B 106I Schedule I: Your Income: Tells the court about your income. 
• B 106J Schedule J: Your Expenses: Tells the court about your expenses. 
• B 106J-2 Schedule J-2: Expenses of Separate Household of Debtor 2: Tells the court about the expenses of the other debtor, if applicable, but only if the other debtor lives in a different household than you. 

Use the above schedules to complete the following forms:

• B 106 Summary A Summary of Your Assets and Liabilities and Certain Statistical Information: Complete this form after you fill out Schedules A-J (above). Use the information from Schedules A-J to fill out this form.
• B 106 Declaration Declaration About an Individual Debtor's Schedules: Complete and file this form anytime you file Schedules (above) or amended Schedules.

You must complete and file the necessary forms when you file your petition or within 14 days of filing your petition. If you don't, your case will most likely be dismissed.

This includes, without limitation:

• Schedules A-J,
• The Summary and the Declaration,
• Any evidence of payment from employers received 60 days before filing, such as pay stubs,
• A statement of monthly net income, and any increases in income or expenses that you expect to happen after filing, if any, and
• A copy of your tax return or transcripts for the most recent tax year.

You must file Official Form 113 - Chapter 13 Model Plan (your repayment plan) within 14 days after filing your Voluntary Petition. If possible, you should file all your chapter 13 paperwork, including the plan, at the same time.  If you do, the court will mail copies of the plan to your creditors. If, however, you wait and file the plan after your initial filing, you must mail copies of the plan to all of your creditors, and file a statement with the court confirming that you sent the copies.

What's next?

You will make payments on your repayment plan over the next 3-5 years. If you do, you will get a discharge of many of your debts at the end of the plan.