New Bankruptcy Forms for 2015

As of this spring, Arizona requires the use of new forms for several important aspects of bankruptcy cases. If you have not learned about these new forms, do not try to complete your bankruptcy filing until you have had a chance to talk with an experienced bankruptcy attorney about the implications.

New Forms for Arizona Bankruptcies

Arizona filers must now use the new forms or risk receiving a deficiency notice from the bankruptcy clerk. These forms include:

• Chapter 7 Statement of Current Monthly Income, B 22A-1. This statement is filed showing the debtor’s current monthly income, if any, and its sources.
• Supplemental Statement of Exemption from Presumption of Abuse, B 22-A-Supp. This form is filed along with the B 22A-1 for debtors who are presumed to be exempt from any abuse allegations due to their types of debt.
• Chapter 7 Means Test Calculation, B 22A-2. The means test is required for Chapter 7 debtors to ensure that their income and assets do not exceed statutory requirements.
• Chapter 11 Statement of Current Monthly Income, B 22B. Businesses that file Chapter 11 will also have to file a current monthly income statement documenting the company’s various types of income and sources.
• Chapter 13 Statement of Monthly Income and Calculation of Commitment Period, B 22C-1. Like Chapter 7, Chapter 13 filers must state monthly income and sources, but they must also calculate the period during which they will make monthly payments to the bankruptcy trustee.
• Chapter 13 Calculation of Disposable Income, B 22C-2. Along with a calculation of monthly income, Chapter 13 filers must also calculate and account for any disposable income.

Along with the new forms, other changes have been made to filing procedures and rules. If you are considering filing bankruptcy, it is very important that you read and understand these rules thoroughly, or you risk having your bankruptcy case dismissed.

Do I Need a Bankruptcy Attorney?

While it is technically possible to file your own bankruptcy without a lawyer, most people find that it is difficult to manage the complicated rules and procedures of bankruptcy court. Therefore, the help of an experienced bankruptcy attorney like those at the Oswalt Law Group in Phoenix can be invaluable. We can help you file your bankruptcy properly and ensure that you comply with all rules and regulations of the court. Call us today to learn more about how we can help.