Hi, I'd like to answer your bankruptcy questions this morning.
Yes, the class action should be listed under number 4 on your Statement of Financial Affairs.
Generally speaking, what type of class action lawsuit is this? Depending on what it relates to, it may need to be listed elsewhere in your schedules.
"21. Other contingent and unliquidated claims of every nature, including tax refunds, counterclaims of the debtor, and rights to setoff claims. Give estimated value of each."
i put potential claims and amount of tax return on #21 and the last line wrote see #35, will that do? or what would you suggest?
Anticipated tax refunds should probably be listed in #18 (remember to list your tax refund as an exemption in Schedule C as well).
#1 on Statement of Financial Affairs, do I need to put down income I received from renting a room/rooms?
Yes, although I personally would put it under #2 along with tax refunds actually received. I don't think it's wrong to put it under #1 if you consider renting property your business, but "rents" are listed under #2 in the instructions to the Statement of Financial Affairs.
oh should I put last years tax refund on #2 of SOFA? for the 2010 year?
I believe income from tax refunds for the last two years should be listed in #2. It's not a huge deal so long as you listed it somewhere.
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