The 7 Steps to Filling Out Bankruptcy Schedule E

A bankruptcy schedule E will list the sorts of claims for debts that may be unsecured yet that are entitled to priority.  The debtor will be required to acknowledge any existence of claims in all categories listed on the form.  In the case of a bankruptcy schedule E, an unsecured debt is considered to be any debt that the creditor does not have a lien or collateral.

Priorities and Schedule E

There are several types of “priorities” that are listed under Bankruptcy Code section 507.  The best thing to do is to go over to section 507 of the Bankruptcy Code (which available on the internet for free at many sites) and see which priority claims fit your situation.  Write them down on a separate piece of paper, and then come back to completing the form for a bankruptcy schedule E.  It will make things much easier for you.  The claims that are considered to be priority because they take precedence in getting paid over any other unsecured claims.

7 Steps to Filing out The Schedule E Form

There are 7 major steps to filing out a bankruptcy schedule E form:

1. On the Schedule E form, if you have no unsecured priority claims then you would put an “x” in the box just above the words “Types of Priority Claims.”  
2. Next you will want to mark off any of the priority claims that you do have against you.  Mark all that apply to your situation.  You may have to include a continuation sheet if there are a lot of priority claims against you.  One this separate sheet, include the name, address, zip code, and account number of all of your creditors.
3. In the next column that is marked “co-debtor” you can place an “x” in that column if there are any other people aside from your spouse that would be considered jointly liable on a claim.  If you are filing a joint petition, then should mark the co-debtor as appropriate.
4. You should list to the best of your knowledge the exact date that the claim came to be and why it happened.  
5. You should check off whether your claim is considered to be contingent, disputed or unliquidated.  If none of the aforementioned apply then leave that column blank.
6. It is important for you to know the exact amount of the claim as you will need to list it on the form.  At this point you should calculate both the subtotal and the total and report the total on the “liabilities” column of the Summary of Schedules sheet. 
7. Finally, based on your research and your calculations you will need to calculate the amount that is entitled to priority payment in the last column of the page.

Getting Help

If you are declaring bankruptcy, make sure to consult with an experienced bankruptcy attorney who can help you to fill out all of your forms, including Schedule E. Your attorney can assist you throughout every step of the process so you can make sure the claim is approved and the bankruptcy goes through without a hitch.