What You Should Know About Bankruptcy Court

Bankruptcy Court is part of the Federal government court system.Each of the 94 Federal Districts handles Bankruptcy matters.The bankruptcy courts usually have their own clerk’s offices.

Even though Bankruptcy courts are part of the federal court system, courts can also have local rules as long as they as consistent with Federal Rules of Civil Procedures.. Examples of local rules are allowing any interested part to request video or telephone conferencing without need for a court appearance, electronic filing and specific requirements for supporting briefs.

A significant amount of the bankruptcy process is administrative in nature. The bankruptcy court appoints a trustee to oversee the case and administrative process. Most of the proceedings are handled outside the courthouse.

The trustee is assigned by the Bankruptcy Court after you file for the official petition. Part of the trustees role is to keep the process moving smoothly and speed up the ultimate resolution of your petition.The trustee chairs the Meeting with Creditors and if necessary and if needed, tries to mediate a solution.

If you file under Chapter 7, there is a good chance you won’t have to appear in court before the bankruptcy judge unless one of your creditors raises an objection. Chapter 13 files often appear before the judge only at their plan confirmation hearing. The only official meeting the petitioner must appear at is the Meeting of Creditors, but that proceeding usually takes place at office of the trustee.

There are a large number of official bankruptcy forms which you will be required to complete. Depending upon your individual circumstances, some of the forms which you could include:

Voluntary Petition
Involuntary Petition
List of Creditors Holding 20 Largest Unsecured Claims
Summary of Schedules
Schedule A – Real Property
Schedule B – Personal Property
Schedule C – Property Claimed as Exempt
Schedule D – Creditors Holding Secured Claims
Schedule E – Creditors Holding Unsecured Priority Claims
Schedule F – Creditors Holding Unsecured Nonpriority
Schedule G – Executory Contracts and Unexpired Leases
Schedule H – Codebtors
Schedule I – Current Income of Individual Debtor(s)
Schedule J- Current Expenditures of Individual Debtor
Declaration Concerning Debtor’s Schedules
Statement of Financial Affairs

There could be additional forms depending whether you are filing under Chapter 7, Chapter 11, Chapter 12 or Chapter 13. The following is a ling to the governments website for bankruptcy form:

http://www.uscourts.gov/bkforms/

The Bankruptcy Court will require you to meet with an approved credit counseling service. The Bankruptcy Administrators are responsible for approving services and maintaining the list of approved providers in their district.