You will need this information to fill out the many bankruptcy forms. Figuring out exactly what property you own and how much of that property is exempt may also help you decide which bankruptcy chapter is more beneficial. In addition, by putting all this information together ahead of time, you lessen the chance of forgetting to include important property or debts on the forms. Schedule A details all of your real estate holdings. Schedule B details all of your personal property.
Personal property is simply all property other than interests in land or buildings.
Schedule C basically calls upon you to relist most of the property in Schedules A and B, specifying the state or federal law that provides the exemption, the value of the claimed exemption and the current market value of the property without deducting exemptions. Additionally, you will need to provide the court with a schedule of your current income. If you have filed a joint bankruptcy petition with your spouse, you will need to detail both spouses' monthly income. This is, essentially, a monthly household budget. Of course, if you already prepare such a calculation for your own use, then this will be an easy chore.