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Thursday, April 21, 2016

Pending Changes in Bankruptcy Forms Effective April 2016

According to the website for the United States Bankruptcy Court for the Southern District of New York:

Pending Changes in Bankruptcy Forms Effective April 2016

Release Date: 
March 15, 2016
Pending Changes in Bankruptcy Forms Effective April 2016
Automatic adjustments will be made on April 1, 2016, to dollar amounts stated in various provisions of the Bankruptcy Code, one provision in Title 28, seven Official Bankruptcy Forms which contain adjusted dollar amounts, the Instructions for Individual and Non-Individual Debtors, two Director’s Forms which include dollar amounts, and one set of instructions for a Director’s Form which includes a dollar amount. The adjustments will apply to cases filed on or after April 1, 2016.
Section 104 of the Code provides that the Judicial Conference make the adjustments, which are calculated at three-year intervals on the basis of the change in the Consumer Price Index for the most recent three-year period ending immediately before the year in which the adjustment is made and rounded to the nearest $25. The Conference has delegated that authority to the Administrative Office. The revised dollar amounts were published on February 22, 2016, volume 81, number 34, of the Federal Register, at page 8,748.
The Official Forms, Director’s Forms, and instructions impacted include:
• Official Form 106C, The Property You Claim as Exempt, Line 3
• Official Form 107, Your Statement of Financial Affairs for Individuals Filing for Bankruptcy, Line 6
• Official Form 122A-2, Chapter 7 Means Test Calculation, Lines 29 and 40
• Official Form 122C-2, Chapter 13 Calculation of Your Disposable Income, Line 29
• Official Form 201, Voluntary Petition for Non-Individuals, Line 8
• Official Form 207, Statement of Your Financial Affairs, Lines 3 and 4
• Official Form 410, Proof of Claim, Line 12
• Director’s Form 2000, Required Lists, Schedules, Statements, and Fees, Pages 2, 3, and 4
• Director’s Form 2830, Chapter 13 Debtor's Certifications Regarding Domestic Support Obligations and Section 522(q), Part III
• Instructions for Individual Debtors, Pages 8 and 22
• Instructions for Non-Individual Debtors, Page 12
• Director’s Form 2500E, Instructions, Page 1

For more, see http://www.nysb.uscourts.gov/news/pending-changes-bankruptcy-forms-effective-april-2016

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