The majority of the bankruptcy forms are being replaced effective December 1, 2015. This change is in an effort to improve the official bankruptcy forms and the interface between these forms and available technology. In creating the new forms, surveys were conducted to determine the problems with the current forms and input was utilized at the design phase from practitioners, trustees, along with software vendors.
It’s important that bankruptcy attorneys do not assume these are the same forms as the old ones. Read the questions and instructions thoroughly. Make sure and get your clients to disclose all of their assets and claims, including the contingent ones.
One of the key features of the new forms is that there is a separate case-opening form for individuals, new Form B101, Voluntary Petition for Individuals Filing for Bankruptcy, and a new form for non-individual debtors, new Form B201, Voluntary Petition for Non-Individuals Filing for Bankruptcy.
The new form for individual debtors would also be used for married debtors. Only business entities would use the non-individual form. The non-individual debtor’s form reflects how businesses keep financial records. The new forms also remove questions relevant only to individuals.
There’s been concern that because these forms are reportedly easier to use, it will encourage more pro se filings. There are warnings throughout the new forms against pro se filings, but these are always a reality.
Click here to read more on this story.
If you are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.
