Consumer Bankruptcy Journal Fall 2015 - Page 111

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 107 was formerly Official Form 7, Statement of Financial Affairs. New Form Elements: Part 9, Identify Property You Hold or Control for Someone Else, instructs that the debtor should include any property that the debtor borrowed from, is storing for, or is holding in trust for someone. Part 10, Give Details About Environmental Information, requires the debtor to list the case title and nature of the case for any judicial or administrative proceeding under any environmental law and to indicate the status of the case. REVISED - Question #22 is new replaced Official Form 7. REVISED - Question #23 was formerly question #14 on replaced Official Form 7. REVISED - Question #24 was formerly question #17a on replaced Official Form 7. © 2015 CINgroup. All Rights Reserved | CINgroup.com