Consumer Bankruptcy Journal Fall 2015 - Page 109

Form Modernization Overview Official Form 107 Overview: Official Form 107, Statement of Financial Affairs for Individuals Filing for Bankruptcy, which applies only in cases of individual debtors, is revised in its entirety as part of the Forms Modernization Project. Form 107was formerly Official Form 7, Statement of Financial Affairs. New Form Elements: Part 6, List Certain Losses, clarifies how to report insurance coverage for losses. It provides that the debtor must report insurance payments on Form 107 and list pending insurance claims on Form 106A/B. REVISED - Question #15 was formerly question #8 on replaced Official Form 7. REVISED - The debtor must report insurance payments on Form 107 and list pending insurance claims on Form 106A/B. REVISED - Question #16 was formerly question #9 on replaced Official Form 7. © 2015 CINgroup. All Rights Reserved | CINgroup.com