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Use the Below Facts for all of your Bankruptcy Forms

 

Optional - not required:  Try Bestcase software to prepare your Bankruptcy papers. You can download it and use it for free.

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GET A SNEAK PEEK OF BESTCASE SOFTWARE

 

Attend an Online Demo:

• Walk through preparing a petition
• Apply the Means Test provisions
• Import data with workflow tools
• Electronically file a case with OneTouch

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Voluntary Petition - Chapter 7 

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CHAPTER 7 PETITION & SCHEDULE ASSIGNMENT

 

INSTRUCTIONS:

 

Listed below are the data for our fictitious bankruptcy.  Any facts missing may be added if they reasonably relate to the scenario.  

 

You are to complete all forms as required by the Central District of California to file a Chapter 7 bankruptcy.  The forms may be completed using Best Case software.   
 

You are to determine which set of exemptions should be used to ensure that the parties retain as many assets as possible.  You are also to determine what items will be redeemed, reaffirmed or subject to a motion to avoid the lien.  Should you be unclear as to whether an item can be redeemed, reaffirmed or subject to a motion to avoid the lien, please consult the federal codes (Title 11) and local rules.  This will be an attorney prepared bankruptcy, pretend you are the attorney and place your name in the appropriate space.  Your address is 13356 Eldridge Avenue, Sylmar, CA. 91342   Make-up a phone number and fax number.

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FACTS

Voluntary Petition - Chapter 7

name of debtors -    George Clooney &  Amal Clooney

 

living in a family residence located at 1313 Disneyland Dr, Anaheim, CA 92802  - check to see which BK court to file it in

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Schedule A -Real Property

Real Property - location  - 1313 Disneyland Dr, Anaheim, CA 92802- current fair market value $652,856 - 1st Mortage - Indymac  - $380,000 - 266 South Main Street, Anaheim, California (need zip code)  - nature of debtor's property - fee simple - owned as community property - 2nd Mortgage - Bank of America  - $285,483 - 644 Complex Place, NYC, NY (need zip code)

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Schedule B assets and liabilities

 

1. Cash on hand ..... between $4650 - 6525

2. Household goods .... at least $9000, itemize stereo system, washer dryer, refrigerator, electric stove, misc furniturre  minor appliances, chairs, end tables, roll top desk, vacuum, bed and bedding, 20 inch tv, lawnmower, childrens toys, oriental rug $4320 - location: at their family residence 

3. file the bankruptcy in the BK court closest to Redondo Beach 

4. books, pictures, other art objects, itemize ... at least $15,000

5. parties names: George Clooney & Amal Clooney

6. cash in bank account - Citibank - Pico and Beverly Blvd., West Los Angeles - $12,000 and a safety deposit box

7. clothing - $2890

8. furs and jewelry - itemize ... $1833

9. firearms, sports, etc. - mountain bike at $675, digital camera, antique gun collection - $3333

10. Interests in IRA, etc. ..... $49,222 (is this exempt?)

11. Interest in $5000 shares in Green Tech Company, Inc.  - a close corporation at $1.15 per share - total value $7100

12. Governmental bonds - U.S. Savings Bonds, at Ventura Canyon Bond and Savings Bank,  125 Main Street, Ventura, Ca.  .... value $1000

Negotiable Promissory Note from Joe Scarborough - brother in law to Amal Clooney  .... $500

13. Wages from 2/1/xx to 10/1/xx from KLM Cleaning Services  (fill in the dates) .... $825

14. Copyright in book published by West Publishing Inc. (How to Become an Wealthy Hollwyood Actor) ..... value unknown

15. 2013 Honda Accord - 4 cylinder in good condition (replacement value from nada.com) .... calculate fair market value - with $22500 still owed to Granados Federal Credit Union

16. used computer valued at Ebay price, used in business $800

17.Copier (used Xerox) - no known market for replacement value ... $0

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Schedule C - Property Claimed as Exempt

Schedule C - Exempt Property

1. Real Property -  1313 Disneyland Dr, Anaheim, CA 92802, current fair market value $652,856 - 1st Mortgage - Indymac  - $380,000 - 266 South Main Street, Anaheim, California (need zip code)  - nature of debtor's property - fee simple - owned as community property - 2nd Mortgage - Bank of America  - $285,483 - 644 Complex Place, NYC, NY (need zip code)

2. Checking and Saving Accounts

3. Cash on hand

5. Household Goods and Furniture

6. Books, Pictures, and other Art Objects

7. Wearing Apparel

8. Furs and Jewelry

9. Firearms, sports - mountain bike

10. Stock Interests 

11. Government and Corporate Bonds

12. Other liquidated debts - wages 

13. Automobile  

14. Office Equipment 

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Schedule D - Secured Claims

1. 1313 Disneyland Dr, Anaheim, CA 92802, $652,856 - 1st Mortgage - Indymac  - $380,000 - 266 South Main Street, Anaheim, California (need zip code)  - nature of debtor's property - fee simple - owned as community property - 2nd Mortgage - Bank of America  - $285,483 - 644 Complex Place, NYC, NY 

3. Automobile - Granados Federal Credit Union, 7777 10th Street,  Decatur, Illinois (zip code?)   - Purchase Money Security Interest - 2013 Honda Accord

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Schedule E - Unsecured Priority Claims

Include Domestic support and Taxes

creditor:  Rachel Cruz Todd  (former wife of  George Clooney)  900 Grand View, Jackson, WY 83001 - 2006 Child support - $5700

creditor: IRS, Columbus, OH 43266 - April 15, 2014 tax liability and interest - $3,000

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Schedule F - Creditors - Unsecured Non-priority claims (xx below means fill in dates)

1. Alan Accountant - 5 Green Street, Cleveland, OH 44118 - Tax Preparation - $500

2. American Allowance - P.O. Box 1, New York, NY 10001 - credit card charges 1/xx to 4/xx - $5,600

3. Angel of Mercy Hospital - 4444 Elevisior St., Belmont, CA 94003 - 12/xx uninsured surgery and medical treatment - $34,000

4. Bob Jones III - 4566 Fifth Ave., New York, NY 10020 - 5/xx - auto accident - negligence claim - $75,000

5. Bonnie Johnson - 3335 Irving St., Clearlake, CA 95422 - Personal Loan, 8/xx, $5,500

6. Citibank - 200 East North St., Columbus, OH 43266 - Student Loan - 20xx, $10,000

7. Dr. Dennis Dentist - 45 Superior Way, Cleveland, OH 44118 - dental work - $1,050

8. Dr. Helen Jones - 443 First St, Soledad, CA 94750 - 4/xx to 6/xx - Pediatric Care - $5,000

9. Fannie's Furniture - 55544 Grove St., Berkeley, CA 94710 - 12/xx - used bedroom set - $1,300

10. Illuminating Co. - 20245 Old Hwy 53, Clearlake, CA 95422, 1/xx to 7/xx, electrical work done on the house - $750

11. John White, Esq. - P.O. Box 401, Finley, CA 95435 - 2/xx - legal representation in lawsuit against neighbor for incursion on property - $ 3,450

12. PG&E - 315 North Forbes St, Lakeport, CA. 95453 - 12/xx to 6/xx, gas and electric services - $1,200

13. Sears - P.O. Box 11, Chicago, IL 60619 - 20xx to 20xx  Dept Store and catalog charges - $3,800

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Schedule G - Executory Contracts

 

Name - Beauty Produces Leasing Co.

44332 Grove St.

Geismar, LA 70734

 

for : Laser skin treatment machine, Lease for 5 year period that expires in 2020.

 

Name: Herman Jones

4553 Woodleigh Court

Smith River, CA. 95567

 

for: Sales Contract for debtor's home entered into between debtor and Herman Jones on 2/1/xx

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Schedule H - Codebtors

 

name : Bonnie Johnson - 3335 Irving St., Clearlake, CA 95422

 

Name of Creditor: Fannie's Furniture - co-signer on the debt.

55544 Grove St., Berkeley, CA. 94710

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Schedule I - Current Income

Amal Clooney
Occupation Retail

Name of Employer: Macy's

How long employed: 2 months

Address of employer: 2356 Cleveland Ave., Pacoima, CA zip code?

Total income per month $2,250 per month

 

Husband -George Clooney

fill in your own "created" income for him

 

Debtor's marital status: Married

Dependents: Daughter 10 and Son 8 - create names of the two children

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Schedule J - Current Expenditures

$1875 per month mortgage, real estate taxes, and property taxes included

Electricity $225

Water and sewer $175

Telephone $188

 

fill in the remainder of the expenses for both Husband and Wife.

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Statement of Intention

2013 Honda Accord - reaffirm debt

Residence - 1st mortgage - reaffirm debt

Residence - 2nd mortgage - reaffirm debt

 

Laser Skin treatment machine - lease will be assumed pursuant to 11 USC § 362(b)(1)(A)

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Form B22 A (Chapter 7) (10/06)

Statement of Current Monthly Income and Means Test Calculation

 

fill this in with the above given information.

 

updated: 2/17/17

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Resources:

 

1. allowable living expenses:http://www.usdoj.gov/ust/eo/bapcpa/20061001/bci_data/national_expense_standards.htm
2. exemptions: http://docs.google.com/View?docid=dcbqv9sm_23gnmc28
3. Bankruptcy Basics - bankruptcy basics  - http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
4. Time Periods - http://docs.google.com/View?docid=dcbqv9sm_21cj3fnj
5. Means Test  - http://new.profj.info/profj.us/chp7chart.html
6. new form Chp. 7 - B22A - http://profj.us/bk/b22a.pdf
7. Income by Family Size - by State -http://www.census.gov/hhes/www/income/medincsizeandstate.html
8. Income by Earner -http://www.census.gov/hhes/www/income/medincearnersandstate.html
9. U.S. Trustee chart on income -http://www.usdoj.gov/ust/eo/bapcpa/20061001/bci_data/median_income_table.htm
10. U.S. Trustee chart of allowable expenses by California County -http://www.usdoj.gov/ust/eo/bapcpa/20061001/bci_data/housing_charts/irs_housing_charts_CA.htm
11. National Standards for Allowed Living Expenses - IRS -http://www.irs.gov/businesses/small/article/0,,id=104627,00.html
12. California Standards for allowed Living Expenses -http://www.irs.gov/businesses/small/article/0,,id=104701,00.html
13. Interview Intake Interview Checksheet  - http://abogado.pbworks.com/w/file/fetch/52326460/Worksheet.pdf
14. Recent 2005 Changes in the Bankruptcy Law -http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act
15. New Bankruptcy Forms - December 2015 - http://www.uscourts.gov/news/2015/11/24/revised-bankruptcy-forms-go-effect-december-1 
16. Instructions for filing new forms - http://www.uscourts.gov/file/18169/download