How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds
Ask a Bankruptcy Law question
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

Schedule D in Bankruptcy

Individuals filing for bankruptcy will be able to use a Schedule D to list creditors holding a secured claim. There is often confusion on what should be claimed on the Schedule D form? Uncertainty of how to properly fill out a Schedule D form often lead to questions like the ones answered below.

What is a Schedule D in bankruptcy?

Schedule D is a form in bankruptcy used to list creditors holding a secured claim. Schedule D would include mortgage and auto loans. It would not however include the actual real property that is the home or the car.

I have a title loan against my vehicle. Is there any way to get rid of the loan and would I need to file the loan on a Schedule D form?

If the creditor is holding the title, they are a secured creditor and belong on schedule D of the bankruptcy petition. You would not be able to get rid of the debt and keep the car. You would be able to walk away from the car if you no longer want it. You can discharge the debt. You can also pay the loan as it stands. Another option is to buy the car from the lender for the fair market value and discharge the rest of the debt (if the car is worth less than the balance owed) otherwise known as a redemption.

How would someone file an amended Schedule D?

You would begin by filling out the same Schedule D form that you filled out when you originally filed for bankruptcy. You would make the necessary changes to the form. Keep in mind that once you amend the Schedule D form the newly revised form will take the place of the previous form so you want to make sure that you fill it out entirely. Do not just fill it out with the changes. At the top of the form you will write “Amended”.

A copy of the amended Schedule D form will need to be mailed to the Bankruptcy trustee and to the United States Trustee. A copy of the form will need to be filed with the bankruptcy clerk and you will need to keep a copy.

You will also need to fill out an Amended Summary of Schedules. You will follow the same amending rules as with the Schedule D. And additionally mail and file with the appropriate people.

I had a judgment for an unsecured debt. I am now filing Chapter 7 bankruptcy. Do I put the judgment on Schedule D?

If this unsecured debt is something like a credit card then it would not go on Schedule D. Schedule D is used to list creditors that have a secured claim. You would only need to put the judgment on Schedule D if the creditor has put a lien on any of your assets.

Having the right information and understanding of a Schedule D in bankruptcy can help when dealing with questions regarding a Schedule D. Experts can help answer questions about Schedule D inclusions or how to fill out an amended Schedule D. Get the answers fast and affordably by asking an Expert online.
Ask a Bankruptcy Law question
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Ron

    ASE Certified Technician

    Satisfied Customers:

    21182
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
< Last | Next >
  • http://ww2.justanswer.com/uploads/FO/fordguy4u/2011-12-17_222940_HPIM1257.64x64.JPG Ron's Avatar

    Ron

    ASE Certified Technician

    Satisfied Customers:

    21182
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    18387
    I am fellowship trained specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/docjohn174/2008-12-13_170143_johnask.jpg John's Avatar

    John

    Home Appliance Technician

    Satisfied Customers:

    13453
    Appliance repair business owner for over 43 years.
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8489
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    3847
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    3384
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/RY/rydergar/2012-6-6_192240_IMG0328.64x64.JPG Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    3299
    DVM, Emergency Veterinarian, BS (Physiology)