What is Schedule B in My Bankruptcy?

Posted by on Nov 17, 2014 in Bankruptcy | Comments Off on What is Schedule B in My Bankruptcy?

What is Schedule B in My Bankruptcy?

Schedule B is a list of everything you own or in which you have an interest that isn’t real estate.  The bankruptcy trustee is looking for items that he/she can sell to pay your creditors.  Schedule B includes:


Your cash.  It could be in your wallet, in a jar on your dresser, or in the cupholder in your car.  The total value of all cash you have should be listed.  Your financial accounts, such as checking and savings accounts must be listed.  If you are a joint owner on an account with another family member, even if only for convenience sake (think mom or dad so you can pay their bills), you must list that, too.  If you’ve paid a security deposit for a utility or your rental home, that needs to be listed.


You need to include all your household goods and furniture, as well as books, art objects, collectibles, and pictures, as well as your clothing and jewelry, and any hobby equipment you own.


Insurance policies that have a cash value should be listed, as well as child support due to you and any tax refunds or other money that may be given to you in the next 180 days.  IRAs, 401(k)s, stocks, bonds, and any other investments must be disclosed.  If you own any copyrights or have customer lists that might be worth something to someone, those must be included.


Vehicles that you own (whether paid for or not) need to be listed.  It is how the vehicle is titled which matters, not in whose name the loan appears.  All vehicles are considered–cars, golf carts, scooters, motorcycles, boats, airplanes, trailers, and more.


Do you have animals?  The court wants to know.  If the dogs are breeding animals for which you make money, they need to know that.


Rule of thumb:  List everything you own, no matter where it’s located.


To make sure your bankruptcy is done right, I strongly recommend hiring an attorney.  If you’d like a free consultation, please call me at 770-631-2334.