Continuing our series on bankruptcy schedules, today we turn to Schedule E. Schedule E is used to list all of your priority unsecured debts. Although Schedule E is now combined with Schedule F, we will separate the two for purposes of discussion based on the importance of each individually. Priority debts are those that are entitled to priority payment under the Bankruptcy Code. These debts are given a higher priority than other unsecured debts and must be paid in full before any other unsecured debts are paid. Priority debts may include taxes, child support, and certain other debts. You should consult with a bankruptcy attorney to determine what priority debts you may have.
Step 1: Gather Information About Your Priority Debts
Before you can start filling out Schedule E, you’ll need to gather information about all of your priority debts. This may include taxes, child support, and other debts that are entitled to priority payment under the Bankruptcy Code. Make sure to gather all relevant documentation, including billing statements and any other documents related to your priority debts.
Step 2: List Your Priority Debts
Once you have all of the necessary information, you or your attorney can start listing your priority debts on Schedule E. For each priority debt, you’ll need to provide the following information:
- Creditor’s name and address: This is the name and address of the creditor who holds the priority debt.
- Type of debt: This is the type of priority debt that you owe, such as taxes or child support.
- Date incurred: This is the date that the priority debt was incurred.
- Amount of claim: This is the amount that you owe on the priority debt as of the date that you filed for bankruptcy.
- Be sure to list each priority debt separately, even if you have multiple debts with the same creditor.
Step 3: Complete the Form
Once you’ve listed all of your priority debts on Schedule E, you or your attorney will need to complete the rest of the form. This includes providing your name, case number, and other basic information, as well as signing the form to certify that the information you’ve provided is true and accurate.
Step 4: Review and File
After you’ve completed Schedule E, review it carefully to make sure everything is accurate and complete. Once you’re satisfied with the form, you or your attorney must file it with the bankruptcy court, along with the rest of your bankruptcy paperwork.
In conclusion, completing Schedule E in a thorough and accurate way is an important part of the bankruptcy process. By following these steps and seeking the guidance of a bankruptcy attorney if needed, you can ensure that your priority unsecured debts are accurately listed, and that your bankruptcy case proceeds smoothly.