Tennessee Summary of Schedules - Form 6CONTSUM - Post 2005

• Category: Bankruptcy - Schedules
• State: Multi-State
• Control #: US-BKR-F6CS
• Format: Word; PDF; Rich Text

Description

This form is a Summary of Schedules. The summary of schedules lists the name of the schedules, the number of sheets, assets, and liabilities. Form 6CONTSUM is a crucial document in Tennessee bankruptcy cases filed after 2005. It serves as a summary of schedules for various types of bankruptcy filings. This form provides an overview of an individual or business debtor's assets, liabilities, income, expenses, and other financial information. The Tennessee Summary of Schedules — Form 6CONTSUM is divided into different sections, each highlighting specific aspects of the debtor's financial situation. These sections include: 1. Schedule A — Real Property: This section provides a detailed inventory of any real estate properties owned by the debtor, including their location, value, and any liens or mortgages attached to them. 2. Schedule B — Personal Property: Here, debtors must list all personal assets such as vehicles, bank accounts, investments, jewelry, and other valuable items along with their estimated values at the time of filing. 3. Schedule C — Property Claimed as Exempt: This section allows debtors to claim certain assets as exempt from the bankruptcy process under Tennessee law. It is essential to accurately list exempt properties to protect them from being liquidated to satisfy debts. 4. Schedule D — Creditors Holding Secured Claims: Debtors must list all creditors holding secured claims against their assets in this section. It includes information about the creditor, the collateral securing the debt, and the amount owed. 5. Schedule E — Creditors Holding Unsecured Priority Claims: This section focuses on creditors with priority claims, such as taxes owed, child support, and alimony. Debts in this category are typically non-dischargeable or given priority in bankruptcy proceedings. 6. Schedule F — Creditors Holding Unsecured Nonpriority Claims: Debtors must list all unsecured creditors without priority claims, including credit card companies, medical bills, and personal loans. These debts are typically subject to discharge under bankruptcy. 7. Schedule G — Executory Contracts and Unexpired Leases: Here, debtors provide details about any ongoing contracts or leases they are a party to. This section helps evaluate the value and potential treatment of these contracts during the bankruptcy process. 8. Schedule H — Codebtors: This section involves listing any individuals who share liability for the debtor's debts. Codebtors could include cosigners or guarantors on loans or jointly owned properties. 9. Schedule I — Current Income of Individual Debtor(s): Debtors must disclose their current sources of income in this section, including employment earnings, business income, rental income, and any other regular income streams. 10. Schedule J — Current Expenditures of Individual Debtor(s): This section of Form 6CONTSUM requires debtors to itemize their monthly living expenses, such as housing costs, utilities, transportation expenses, food, and healthcare. It's important to note that while Form 6CONTSUM is a standard document, variations in additional forms and requirements may arise depending on the specific circumstances of the bankruptcy case, debtor type (individual or business), and the chapter of bankruptcy filed.

Form 6CONTSUM is a crucial document in Tennessee bankruptcy cases filed after 2005. It serves as a summary of schedules for various types of bankruptcy filings. This form provides an overview of an individual or business debtor's assets, liabilities, income, expenses, and other financial information. The Tennessee Summary of Schedules — Form 6CONTSUM is divided into different sections, each highlighting specific aspects of the debtor's financial situation. These sections include: 1. Schedule A — Real Property: This section provides a detailed inventory of any real estate properties owned by the debtor, including their location, value, and any liens or mortgages attached to them. 2. Schedule B — Personal Property: Here, debtors must list all personal assets such as vehicles, bank accounts, investments, jewelry, and other valuable items along with their estimated values at the time of filing. 3. Schedule C — Property Claimed as Exempt: This section allows debtors to claim certain assets as exempt from the bankruptcy process under Tennessee law. It is essential to accurately list exempt properties to protect them from being liquidated to satisfy debts. 4. Schedule D — Creditors Holding Secured Claims: Debtors must list all creditors holding secured claims against their assets in this section. It includes information about the creditor, the collateral securing the debt, and the amount owed. 5. Schedule E — Creditors Holding Unsecured Priority Claims: This section focuses on creditors with priority claims, such as taxes owed, child support, and alimony. Debts in this category are typically non-dischargeable or given priority in bankruptcy proceedings. 6. Schedule F — Creditors Holding Unsecured Nonpriority Claims: Debtors must list all unsecured creditors without priority claims, including credit card companies, medical bills, and personal loans. These debts are typically subject to discharge under bankruptcy. 7. Schedule G — Executory Contracts and Unexpired Leases: Here, debtors provide details about any ongoing contracts or leases they are a party to. This section helps evaluate the value and potential treatment of these contracts during the bankruptcy process. 8. Schedule H — Codebtors: This section involves listing any individuals who share liability for the debtor's debts. Codebtors could include cosigners or guarantors on loans or jointly owned properties. 9. Schedule I — Current Income of Individual Debtor(s): Debtors must disclose their current sources of income in this section, including employment earnings, business income, rental income, and any other regular income streams. 10. Schedule J — Current Expenditures of Individual Debtor(s): This section of Form 6CONTSUM requires debtors to itemize their monthly living expenses, such as housing costs, utilities, transportation expenses, food, and healthcare. It's important to note that while Form 6CONTSUM is a standard document, variations in additional forms and requirements may arise depending on the specific circumstances of the bankruptcy case, debtor type (individual or business), and the chapter of bankruptcy filed.