Idaho Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer - For 2005 Act

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US-B-280
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Description

This form is a disclosure of compensation of a bankruptcy petition preparer. The bankruptcy petition preparer declares that the information submitted is true and correct to the best of his/her knowledge.

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FAQ

A bankruptcy letter should be clear and concise and provide all the necessary information. It should include the name and contact information of the debtor, the date of the filing, the court where the bankruptcy was filed, the case number, and the type of bankruptcy filed.

Rights to exempt property have priority over all claims against the estate. These rights are in addition to any benefit or share passing to the surviving spouse or children by the will of the decedent, unless otherwise provided in the will, or by intestate succession, or by way of elective share.

Each owner-occupied primary residence (house or manufactured home) and up to one-acre of land is eligible for a Homestead Exemption. This exemption allows the value of your residence and land up to one-acre be exempted at 50% of the assessed value up to a maximum of $125,000; whichever is less.

Personal property: up to $7,500 of household appliances and up to $750 per item. Motor vehicles: up to $7,000. Wildcard: up to $800 of any property you own.

With the Idaho homestead exemption, homeowners may exempt up to $100,000 of their home in bankruptcy.

If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.

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Idaho Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer - For 2005 Act