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Official Form 106Sum Summary of Your Assets and Liabilities and Certain Statistical Information 12/15 Be as complete and accurate as possible.

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How to fill out the Official Form 106sum online

Official Form 106sum is a critical document used in bankruptcy proceedings, summarizing your assets, liabilities, and income. This guide provides clear and structured steps to complete the form online, ensuring users can navigate the process confidently.

Follow the steps to accurately complete your Official Form 106sum.

  1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin filling out the debtor information section. Enter the names of Debtor 1 and Debtor 2, if applicable, ensuring accuracy for each field including the first, middle, and last names.
  3. Indicate the United States Bankruptcy Court where you are filing. Fill in the district and case number, if known. If this is an amended filing, check the corresponding box.
  4. Part 1 requires you to summarize your assets. Obtain the total values from Schedule A/B, specifically the values listed under total real estate and total personal property. Fill in these amounts accordingly.
  5. Proceed to Part 2 to summarize your liabilities. Gather the necessary information from Schedule D and Schedule E/F regarding secured and unsecured claims, and accurately complete the fields with the corresponding totals.
  6. In Part 3, summarize your income and expenses. You will need to reference Schedule I for your monthly income and Schedule J for your monthly expenses, entering these amounts as required.
  7. Part 4 includes administrative and statistical questions. Answer whether you are filing for bankruptcy under Chapters 7, 11, or 13, and provide the necessary details regarding the types of debts you have.
  8. Once all sections are complete, review your information for accuracy. Ensure all required fields are filled out correctly.
  9. After reviewing, you can save your changes, download a copy of the completed form, print it for submission, or share it as necessary.

Start filling out your Official Form 106sum online today to ensure a smooth bankruptcy filing process.

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Official Form 122A─1. Chapter 7 Statement of Your Current Monthly Income.

What is Schedule AL? Schedule AL enables a taxpayer to disclose assets and the corresponding liabilities in the ITR filed by the taxpayer. The values of the assets and liabilities standing at the end of the year are required to be disclosed in the schedule AL.

The statement of financial affairs (SOFA) is intended to capture a historical view of the debtor's finances. Once completed, the SOFA provides creditors with a summary of the debtor's financial history, transactions, and operations over certain periods of time before the petition date.

Assets are what a business owns and liabilities are what a business owes. Both are listed on a company's balance sheet, a financial statement that shows a company's financial health. Assets minus liabilities equals equity, or an owner's net worth.

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