Rhode Island Summary of Schedules — Form 6CONTSU— - Post 2005 is a legal document that provides a detailed overview of a debtor's assets, liabilities, and overall financial situation. This form is an essential component of the bankruptcy filing process in Rhode Island and is crucial in determining the appropriate course of action for creditors or trustees involved. The Summary of Schedules — Form 6CONTSUM is divided into several sections, allowing debtors to comprehensively report their financial information. These sections typically include: 1. Real Property: This section requires debtors to list all their real estate holdings, such as residential properties, commercial spaces, or vacant land. Details such as the property's location, estimated value, liens, mortgages, and any co-ownerships are documented. 2. Personal Property: Debtors are required to list all their personal assets in this section, including vehicles, furniture, jewelry, electronics, and other valuable items. It is important to mention their estimated values, any liens or loans against these assets, and whether the debtor has claimed any exemptions for specific properties. 3. Property Claimed as Exempt: Here, the debtor must provide details about the properties they wish to exempt from the bankruptcy proceedings. Exemptions are legal provisions that allow debtors to protect specific assets from being used to repay creditors. Debtors need to specify applicable exemption laws and provide supporting documentation for each claimed exemption. 4. Creditors Holding Secured Claims: This section requires debtors to list all creditors who hold secured claims against their properties. Secured claims refer to debts where the creditor has a legal right to take possession of the debtor's assets if the loan remains unpaid. Debtors should mention the creditor's name, the property used as collateral, the amount owed, and any unsecured portions of the debt. 5. Creditors Holding Unsecured Priority Claims: Debtors must disclose any creditors who hold unsecured priority claims, such as tax obligations or unpaid child support. In this section, debtors should include the creditor's name, the type of priority claim, and the amount owed. 6. Other Priority Claims: This section is for listing additional creditors holding priority claims, apart from tax or support obligations. Debtors must provide the creditor's name, the nature of the priority claim, and the amount owed. 7. Creditors Holding Unsecured Nonpriority Claims: Debtors are required to list all creditors who hold unsecured nonpriority claims. These claims involve debts where there is no collateral attached and no special priority status. Debtors should mention the creditor's name, the type of debt, and the amount owed. 8. Equity Security Holders: If the debtor has issued equity securities, such as stock or shares, this section requires them to disclose the details of those securities and the names of security holders. Different types or variations of Rhode Island Summary of Schedules — Form 6CONTSUM may exist based on the specific intricacies or requirements of individual bankruptcy cases. However, the core purpose of this form is to provide a comprehensive overview of a debtor's financial situation, ensuring transparency and fairness throughout the bankruptcy process.
Rhode Island Summary of Schedules - Form 6CONTSUM - Post 2005
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Whether the trustee can take money you receive after filing your case depends on whether you were entitled to the money at the time your case was filed and how it was listed on your forms, if at all.
Secured Creditors are creditors that hold a lien on its debtor's property, whether that property is real property or personal property. The lien gives the secured creditor an interest in its debtor's property that provides for the property to be sold to satisfy the debt in cases of default.
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 equal equity?or the company's net worth.
Schedule D: Secured Debts Official Form 106D, called Schedule D: Creditors Who Hold Claims Secured By Property (individuals), is for secured debts. It lists debt secured by an interest in either real property (like a house) or personal property. The most common types of secured debts are car loans and home mortgages.
Statement of Financial Af·?fairs. : a written statement filed by a debtor in bankruptcy that contains information regarding especially financial records, location of any accounts, prior bankruptcy, and recent or current debt. called also statement of affairs.
Official Form 106Sum is the Summary of Your Assets and Liabilities and Certain Statistical Information. It contains the ?bottom line? kind of information from your schedules. Things like the total value of your property, the total amount of your debts, and information about your income and expenses.
Schedules of Assets and Liabilities means the "Schedule of All Liabilities of Debtor and Statement of All Property of Debtor" Filed by the Debtors, as the same have been or may be amended from time to time prior to the Effective Date.