Consumer Bankruptcy Journal Fall 2015 | Page 103

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 11, Give Details About Your Business or Connections to Any Business, If the debtor has a connection to a business,
the debtor must list the name, address, nature, and Employer Identification number of the business, the dates the
business existed, and the name of an accountant or bookkeeper for the business. Accounting information requested is
truncated; the debtor is simply required to provide the name of the business bookkeeper or accountant.
Part 12, Sign Below, eliminates the signature boxes for a partnership or corporation and a non-attorney bankruptcy
petition preparer. Also, the debtor is asked to indicate through checkboxes whether additional pages are attached to the
form.

REVISED - Question #28
was formerly question
#19d on replaced Official
Form 7.

© 2015 CINgroup. All Rights Reserved | CINgroup.com