Consumer Bankruptcy Journal Fall 2015 - Page 112

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 1, Give Details About Your Marital Status and Where You Lived Before, moves the questions regarding the debtor’s prior addresses, as well as residences in a community property state, to the beginning of the form. The form eliminates the “name used” question in reference to prior addresses. Also, the debtor is no longer required to list the name of a spouse or former spouse who lived with the debtor in a community property state since that information will be provided in Official Form 106H. NEW - Modernized Form Caption. NEW – Amended filing checkbox. REVISED – Official Form 107, Statement of Financial Affairs for Individuals Filing for Bankruptcy, replaces Official Form 7, Statement of Financial Affairs. Question #1 is a new question added to Official Form 107. Question #2 was formerly question #15 of Official Form 7. Question #3 was formerly question #16 of Official Form 107. © 2015 CINgroup. All Rights Reserved | CINgroup.com