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This version of the form is not currently in use and is provided for reference only. Download this version of
Official Form 122A-1
for the current year.
Official Form 122A-1 Chapter 7 Statement of Your Current Monthly Income
What Is Official Form 122A-1?
This is a legal form that was released by the United States Bankruptcy Court on December 1, 2015 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Official Form 122A-1?A: Official Form 122A-1 is a form used in Chapter 7 bankruptcy cases to disclose your current monthly income.
Q: What is Chapter 7 bankruptcy?A: Chapter 7 bankruptcy is a type of bankruptcy that allows individuals to wipe out their eligible debt and get a fresh start.
Q: What does the Official Form 122A-1 require?A: The Official Form 122A-1 requires you to provide information about your income, expenses, and debt.
Q: Why do I need to disclose my current monthly income?A: Disclosing your current monthly income is necessary to determine whether you qualify for Chapter 7 bankruptcy and to calculate your disposable income.
Q: What is disposable income?A: Disposable income is the amount of money you have available to pay your debts after deducting certain allowed expenses.
Q: Can I keep any of my income if I file for Chapter 7 bankruptcy?A: Yes, you can keep a certain amount of your income for basic living expenses and necessary expenses.
Q: What happens if my current monthly income is above the state median income?A: If your current monthly income is above the state median income, you may have to complete an additional form called Official Form 122A-2.
Q: What are some examples of allowable expenses?A: Allowable expenses include housing, transportation, food, and health care expenses.
Q: Can I include all my debt in a Chapter 7 bankruptcy?A: Most types of debt can be included in a Chapter 7 bankruptcy, but there are some exceptions, such as certain tax debts and student loans.
Q: Do I need an attorney to file for Chapter 7 bankruptcy?A: While it is not required to have an attorney, it is recommended to seek legal advice when filing for Chapter 7 bankruptcy to ensure you understand the process and your rights.
Form Details:
- Released on December 1, 2015;
- The latest available edition released by the United States Bankruptcy Court;
- Easy to use and ready to print;
- Yours to fill out and keep for your records;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Official Form 122A-1 by clicking the link below or browse more documents and templates provided by the United States Bankruptcy Court.
Download Official Form 122A-1 Chapter 7 Statement of Your Current Monthly Income
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