Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 5–CREDITORS, THE DEBTOR, AND THE ESTATE

Sub Chapter II – Debtor's Duties and Benefits

Sec. 521. Debtor's duties

   The debtor shall--
        (1) file a list of creditors, and unless the court orders 
    otherwise, a schedule of assets and liabilities, a schedule of 
    current income and current expenditures, and a statement of the 
    debtor's financial affairs;
        (2) if an individual debtor's schedule of assets and liabilities 
    includes consumer debts which are secured by property of the 
    estate--
            (A) within thirty days after the date of the filing of a 
        petition under chapter 7 of this title or on or before the date 
        of the meeting of creditors, whichever is earlier, or within 
        such additional time as the court, for cause, within such period 
        fixes, the debtor shall file with the clerk a statement of his 
        intention with respect to the retention or surrender of such 
        property and, if applicable, specifying that such property is 
        claimed as exempt, that the debtor intends to redeem such 
        property, or that the debtor intends to reaffirm debts secured 
        by such property;
            (B) within forty-five days after the filing of a notice of 
        intent under this section, or within such additional time as the 
        court, for cause, within such forty-five day period fixes, the 
        debtor shall perform his intention with respect to such 
        property, as specified by subparagraph (A) of this paragraph; 
        and
            (C) nothing in subparagraphs (A) and (B) of this paragraph 
        shall alter the debtor's or the trustee's rights with regard to 
        such property under this title;

        (3) if a trustee is serving in the case, cooperate with the 
    trustee as necessary to enable the trustee to perform the trustee's 
    duties under this title;
        (4) if a trustee is serving in the case, surrender to the 
    trustee all property of the estate and any recorded information, 
    including books, documents, records, and papers, relating to 
    property of the estate, whether or not immunity is granted under 
    section 344 of this title, and
        (5) appear at the hearing required under section 524(d) of this 
    title.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2586; Pub. L. 98-353, title III, 
Secs. 305, 452, July 10, 1984, 98 Stat. 352, 375; Pub. L. 99-554, title 
II, Sec. 283(h), Oct. 27, 1986, 100 Stat. 3117.)


                      Historical and Revision Notes

                         legislative statements

    Section 521 of the House amendment modifies a comparable provision 
contained in the House bill and Senate amendment. The Rules of 
Bankruptcy Procedure should provide where the list of creditors is to be 
filed. In addition, the debtor is required to attend the hearing on 
discharge under section 524(d).


                        senate report no. 95-989

    This section lists three duties of the debtor in a bankruptcy case. 
The Rules of Bankruptcy Procedure will specify the means of carrying out 
these duties. The first duty is to file with the court a list of 
creditors and, unless the court orders otherwise, a schedule of assets 
and liabilities and a statement of his financial affairs. Second, the 
debtor is required to cooperate with the trustee as necessary to enable 
the trustee to perform the trustee's duties. Finally, the debtor must 
surrender to the trustee all property of the estate, and any recorded 
information, including books, documents, records, and papers, relating 
to property of the estate. This phrase ``recorded information, including 
books, documents, records, and papers,'' has been used here and 
throughout the bill as a more general term, and includes such other 
forms of recorded information as  data  in  computer  storage  or  in  
other  machine readable forms.
    The list in this section is not exhaustive of the debtor's duties. 
Others are listed elsewhere in proposed title 11, such as in section 
343, which requires the debtor to submit to examination, or in the Rules 
of Bankruptcy Procedure, as continued by Sec. 404(a) of S. 2266, such as 
the duty to attend any hearing on discharge, Rule 402(2).


                               Amendments

    1986--Par. (4). Pub. L. 99-554 inserted ``, whether or not immunity 
is granted under section 344 of this title'' after second reference to 
``estate''.
    1984--Par. (1). Pub. L. 98-353, Sec. 305(2), inserted ``a schedule 
of current income and current expenditures,'' after ``liabilities,''.
    Pars. (2) to (5). Pub. L. 98-353, Sec. 305(1), (3), added par. (2), 
redesignated former pars. (2) to (4) as (3) to (5), respectively.
    Pub. L. 98-353, Sec. 452, which directed the insertion of ``, 
whether or not immunity is granted under section 344 of this title'' 
after second reference to ``estate'' in par. (3) as redesignated above, 
could not be executed because such reference appeared in par. (4) rather 
than in par. (3).


                    Effective Date of 1986 Amendment

    Amendment by Pub. L. 99-554 effective 30 days after Oct. 27, 1986, 
see section 302(a) of Pub. L. 99-554, set out as a note under section 
581 of Title 28, Judiciary and Judicial Procedure.


                    Effective Date of 1984 Amendment

    Amendment by Pub. L. 98-353 effective with respect to cases filed 90 
days after July 10, 1984, see section 552(a) of Pub. L. 98-353, set out 
as a note under section 101 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 110, 523, 554, 704, 707, 
1106, 1111, 1112, 1307 of this title.



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Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software