Source: https://www.nolo.com/legal-updates/cares-act-filers-must-use-new-official-bankruptcy-forms.html
Timestamp: 2020-06-05 22:52:07
Document Index: 780099645

Matched Legal Cases: ['§ 101', '§ 1325', '§ 101', '§ 1325', '§ 101', '§ 1325']

CARES Act | New Official Bankruptcy Forms | Nolo
CARES Act: Filers Must Use New Official Bankruptcy Forms
Learn where to find the bankruptcy forms changed by the CARES Act in response to the COVID-19 outbreak.
The Bankruptcy Rules Advisory Committee has revised five bankruptcy forms to comply with changes mandated by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Section 1113.
Filers must use the newly-revised forms immediately (click the link for new version):
Form 101 Voluntary Petition. The CARES Act redefined a “debtor” for subchapter V of Chapter 11 eligibility as a filer with non-contingent liquidated secured and unsecured debts not exceeding $7,500,000 (previously 2,725,625). The change appears in Line 13 and will remain in effect until March 26, 2021 (one year from the CARES Act enactment date). This form is used by individuals filing under Chapter 11, subchapter V.
Form 201 Voluntary Petition for Non-Individuals Filing for Bankruptcy. The CARES Act redefined a “debtor” for subchapter V of Chapter 11 eligibility as a filer with non-contingent liquidated secured and unsecured debts not exceeding $7,500,000 (previously 2,725,625). The change appears in Line 8 and will remain in effect until March 26, 2021 (one year from the CARES Act enactment date). This form is used by businesses filing under Chapter 11, subchapter V.
Form 122A-1 Chapter 7 Statement of Your Current Monthly Income. The CARES Act modifies the Bankruptcy Code definitions of “current monthly income” (§ 101(10A)) and “disposable income” (§ 1325(b)(2)) to exclude stimulus and other payments made relating to the coronavirus disease (COVID-19) under the National Emergencies Act (50 U.S.C. 1601 et seq.). The change appears in Line 10. This form is used by individuals filing under Chapter 7.
Form 122B Chapter 11 Statement of Your Current Monthly Income. The CARES Act modifies the Bankruptcy Code definitions of “current monthly income” (§ 101(10A)) and “disposable income” (§ 1325(b)(2)) to exclude stimulus and other payments made relating to the coronavirus disease (COVID-19) under the National Emergencies Act (50 U.S.C. 1601 et seq.). The change appears in Line 10. This form is used by individuals filing under Chapter 11.
Form 122C-1 Chapter 13 Statement of Your Current Monthly Income and Calculation of Commitment Period. The CARES Act modifies the Bankruptcy Code definitions of “current monthly income” (§ 101(10A)) and “disposable income” (§ 1325(b)(2)) to exclude stimulus and other payments made relating to the coronavirus disease (COVID-19) under the National Emergencies Act (50 U.S.C. 1601 et seq.). The change appears in Line 10. This form is used by individuals filing under Chapter 13.
For additional coronavirus legal developments, see COVID-19: The Law and Your Legal Rights During the Coronavirus Outbreak.