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Completing Bankruptcy's Schedule E/F: Creditors Who Have Unsecured Claims | Nolo.com
Completing Bankruptcy's Schedule E/F: Creditors Who Have Unsecured Claims
On Schedule E/F of the bankruptcy petition, you list all unsecured claims. Learn more.
A Chapter 7 or Chapter 13 bankruptcy starts when you file a completed packet of official forms. On Schedule E/F: Creditors Who Have Unsecured Claims, you’ll list your unsecured creditors (those that can’t take your property if you don’t pay your debt).
You can download a fillable copy of Schedule E/F, and other bankruptcy forms, from the U.S. Court’s website.
Terms You’ll Need to Understand
The instructions at the beginning of the form assume you understand terms such as priority claims and executory contracts. Keep reading for helpful definitions.
A creditor’s debt is unsecured if there is no item of property (for instance, your house or car) serving as collateral for the payment of the debt. If you fail to make payment on an unsecured debt, the creditor cannot take your property without first suing you and getting a court judgment. (There are a few exceptions to this rule.)
Congress has decided that some debts, called “priority claims,” deserve to be paid before others. Here are some common examples:
wages, salaries, and commissions owed by you (as an employer) to a current or former employee (with certain time restrictions).
contributions to employee benefit plans if you are an employer
deposits given you by individuals planning to purchase, lease, or rent goods or services that you didn’t deliver
some taxes and debts owed to governmental units, such as unsecured back taxes, and
claims and fines for death or personal injury resulting from driving under the influence of drugs or alcohol.
In Chapter 7 bankruptcy, priority creditors get paid first out of your nonexempt property (if you have any). In Chapter 13 bankruptcy, these creditors (with the exception of child support claims assigned to a government agency) must be paid in full through your three- to five-year repayment plan.
What Is an Executory Contract or Unexpired Lease?
Both executory contracts and leases involve ongoing contracts in which something is still to be performed. Common examples are your apartment lease, gym membership, or cell phone contract. When In Doubt, Consult With an Attorney
If you’re not sure about your debt type, consult with an attorney. Improperly listing a debt could jeopardize its dischargeability (prevent it from being wiped out).
How to Complete Schedule E/F
You’ll need to include all of your creditors when you fill out this form, without exception. You’ll list them in the following order:
nonpriority claims, and
unexpired leases or executory contracts.
Filling Out Part 1
If you don’t have any priority creditors, you’ll check the “No” box and move to Part 2. If you have priority creditors, you’ll check “Yes” and continue with this section. You’ll provide information organized into five columns.
First column. You’re asked for the following by filling in information or checking a box:
name and address of the priority creditor
who owes the debt
whether it’s a community debt, and
whether the claim should be offset (the creditor owes you money that should be deducted from the claim).
Second column. Again, you’ll insert information or check the appropriate box as follows:
the last four numbers of the claim account number
the date you incurred the debt
whether the claim is contingent (you don’t know if you owe it yet because some event must occur first), unliquidated (you don’t know the amount of the debt), or disputed, and
check the box that tells the court why your claim is a priority claim or fill in the blank if the priority type is not already listed.
Third column. Generally, you’ll list the amount it would take to pay off the debt in full. Don’t include partially secured creditors that you listed on Schedule D.
Fourth column. This is where you list the amount of the priority claim.
Fifth column. For some priority claims, there’s a maximum amount that is entitled to priority. For instance, $12,850 in wages owed to an employee is entitled to priority. If the claim is for more than the maximum, only list the maximum in the fourth column, “Priority Amount.” List the remaining nonpriority amount in this column.
Filling Out Part 2
You’ll list all other creditors in Part 2 by following the instructions provided above. The only difference is that you’ll be asked if the debt is a student loan, a family law obligation that you didn’t report in the priority claims section, or a debt to a pension or profit-sharing debt. If the debt is something else, explain what it is—such as credit card charges, medical treatment, or vet bills—in the “Other” section.
Notifying Others in Part 3
Collection agencies need to know you’ve filed bankruptcy so they’ll stop harassing you. You’ll list them here. You’ll also list anyone who is in an executory contract or unexpired lease with you, such as your cable company. Anyone else that might need notice is also listed here.
Adding Up Your Debts in Part 4
In the last section you’ll tally up all of your debts and insert the totals in the following categories:
taxes and certain other debts you owe the government
claims for death or personal injury while you were intoxicated, and
all other debt.
The last thing you’ll do is to add all the figures together and insert the total on the last form blank.
This article provides general information only. There are many legal issues involved and important decisions to be made when filing for bankruptcy. You must understand the entire bankruptcy process, learn about the applicable federal and state laws, and determine how those laws will affect your particular situation before you complete the bankruptcy forms. If you want to file without a lawyer, use a good do-it-yourself book like Nolo's How to File for Chapter 7 Bankruptcy to ensure you make well-informed decisions about your bankruptcy case.