Completing the Creditor Schedule

Posted on January 5, 2009 by Kevin Chern Esq.

As you are preparing bankruptcy petitions for your clients, it may be a good idea to inform each client that he or she must give you a complete list of all creditors. This list should include creditors which are currently being paid as well as those which are not being paid. Make sure your clients also list debts which are currently in dispute and those debts which they think might be owed.

Basically, you should communicate to your clients that picking and choosing which creditors to list is not a viable option. All creditors must be listed in the bankruptcy and client discretion on the issue is not a choice.

 

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