Consumer Bankruptcy Journal Fall 2015 | Page 100
Form Modernization Overview
Official Form 101
Overview:
Official Form 101, Voluntary Petition for Individuals Filing for Bankruptcy, replaces Official Form 1, Voluntary
Petition.
New Form Elements:
Part 6, Answer These Questions for Reporting Purposes (line 16c), provides a text field for the debtor to
describe the type of debts owed if the debtor believes they are neither primarily consumer or business
debts. Additionally, the statistical administrative numbers in lines 19 and 20 have increased the maximum
value to describe of the debtor’s assets and liabilities.
REVISED – Line #16,
replaces Nature of
Debts from replaced
Official Form 1.
NEW – Line #16c
adds a new form
element to describe
a debt owed that
the debtor feels is
neither primarily
consumer or
business debt.
REVISED – Line #17
replaces Statistical /
Administrative
Information from
replaced Official
Form 1.
REVISED – Line #18
replaces Estimated
Number of Creditors
from replaced
Official Form 1.
REVISED – Line #19
replaces Estimated
Assets from
replaced Official
Form 1.
REVISED – Line #20
replaces Estimated
Liabilities from
replaced Official
Form 1.
REVISED – Line #19
adds three additional
checkboxes to
document estimated
assets worth between
$1,000,000 and $50
Billion.
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REVISED – Line #20
adds three additional
checkboxes to
document estimated
liabilities worth
between $1,000,000
and $50 Billion.