Consumer Bankruptcy Journal Fall 2015 | Page 109

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 6, List Certain Losses, clarifies how to report insurance coverage for losses. It provides that the
debtor must report insurance payments on Form 107 and list pending insurance claims on Form 106A/B.

REVISED - Question #15
was formerly question #8
on replaced Official Form
7.
REVISED - The debtor

must report insurance
payments on Form 107
and list pending
insurance claims on
Form 106A/B.
REVISED - Question #16
was formerly question #9
on replaced Official Form
7.

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