Chapter 13 and Chapter 7 of the Bankruptcy San Antonio consist of forms and schedules related to your assets, liabilities, income, and expenses. Your attorney can help you to fill them and submit to the court. You have to do it along with the submission of the petition form. Form 106-summary will consist of brief descriptions. The detailed forms will have all the information connected to the various parameters.
Bankruptcy San Antonio – 106A/B
106A/B is related to real estate property. You have to list out all the property information in separate columns. The form lists out your property in various sections. You must read them carefully before listing your property in one of the sections.
In some cases, your property may fit into multiple sections. Then you may have to list your property in all the applicable sections of the 106A/B.
Chapter 7 Bankruptcy San Antonio –Property Type
The property type could be a single-family towing San Antonio, duplex, condominium, mobile home, land, investment property, or a timeshare. You may have one or more categories of property. You need to declare all of them in the form.
You may the sole owner of the property or you may have a partner. Your spouse could be the other partner according to Chapter 7 Bankruptcy San Antonio and Chapter 13 Bankruptcy San Antonio. You can consider the chapter according to the advice from your attorney. Part one of the 106A/B form deals with your estate property.
Section two of the form 106A/B deals with your automobile. You may own many of them, but you may not drive all of them. For example, you may own a car rental company or a tourist cab company. In such cases, you have to give the details of all the automobiles in the section of the form.
Make sure you have the receipts and documents related all the vehicles. You should also have insured all of them as on the current date. You should provide details like Make, model, year, mileage, and other related information about all the vehicles.
You may also own boats, fishing vessels, motorcycles, and other transportation and logistics means. You should give complete details about them on the form Chapter 7 Bankruptcy San Antonio 106A/B.
Chapter 7 Bankruptcy or Chapter 13 Bankruptcy San Antonio – Personal Assets
Whether you choose Chapter 7 Bankruptcy or Chapter 13 Bankruptcy San Antonio, you have to provide information about your assets. They include household goods, electronic items, clothes, jewellery, and other personal items. Though they may not be considered for liquidation, it is necessary to have them declared in the form.
Personal assets also consist of cash, deposits, stocks, pension, security deposits, education IRA, patents, etc.
Bankruptcy San Antonio – Liabilities
Liabilities are the other secured and unsecured loans you have borrowed. They can be from your family, employer, or any other entity which is not in your regular creditors’ list. You can also add insurance, credit card, taxes, and others.
Similarly, there are many other sections in the 16A/B form-which you have to fill and submit. Consult your attorney for solving your doubts.