Consumer Bankruptcy Journal Fall 2015 | Page 108

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 5, List Certain Gifts and Contributions, changes the reporting threshold to $600 per person or charity
and increases the look-back period from one to two years.

REVISED – Question #13
increases the look-back
period from one to two
years.
REVISED - Questions #13
& #14 were both
formerly components of
question #7 on replaced
Official Form 7.

REVISED – Question #13
increases the reporting
threshold to $600 per
person or charity.
Formerly, the reporting
threshold was $200 per
person and $100 per
charity.

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