News
New Bankruptcy Forms
The new Official Forms effective December 1, 2007 are available for download NOW. Those who have updated to that version will need to update again to get the new Forms 22 which are effective on January 1, 2008 when we release them. If you have already upgraded to Version 9.0, you will not need any new codes for the update. If you still haven't upgraded, you're using forms which are no longer compliant. You will need a new unlock code to upgrade from Version 8 to Version 9. We recommend you Check for Updates no less than every two weeks. We're always up to something!
Our new version includes the new median income figures effective October 15, 2007 plus many new features. Our focus is to keep you updated with all the new requirements and to add enhancements to make your practice more efficient.
New BankruptcyPRO® plan modification calculator
Is your Chapter 13 plan derailed? (Client missed a payment, client needs to surrender property, change in client circumstances?) BankruptcyPRO®'s new plan modification calculator can help. You can record the actual payments and distributions to date. Then use that data to help you calculate the plan modification and get your client's plan back on track! It doesn't have to take hours to do the math anymore.
Effective April 1, 2007, several Official forms were updated to reflect new amounts. These changes occurred in the Voluntary Petition, Schedules C and E, the Statement of Financial Affairs, the Proof of Claim form, and the Statement of Current Monthly Income and Means Test Calculation (Chapter 7) (Form 22A), and the Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income (Chapter 13) (Form 22C). The Federal exemption amounts increased as well.
Effective October 1, 2006, several Official Forms have changed again. BankruptcyPRO® Version 8.0 contains those updates: The forms that have changed are:
UPDATED MEDIAN INCOME AMOUNTS
Official Form 1, Voluntary Petition
Exhibit D to Official Form 1 (Individual Debtor's Statement of Compliance with Credit Counseling Requirement (New)
Official Form 5, Involuntary Petition (effective October 17, 2006)
Official Form 6, Summary of Schedules
Official Form 6D, Schedule D
Official Form 6F, Schedule F
Official Form 6I, Schedule I
Official Form 6, Declaration
Official Form 22A, Statement of Current Monthly Income and Means Test Calculation (Chapter 7)
Official Form 22C, Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income (Chapter 13)
Official Form 23, Debtor's Certification and Completion of Instructional Course Concerning Financial Management
NEW in BankruptcyPRO® 8.0: Pay Stubs and Scanning
Entering pay stubs in the Means Test is now much easier. Enter all the pay stub information (income and deductions) in one place and the Pay Stub Calculator will pass the numbers to the appropriate lines on the forms. (You can select pay dates on the calendar for easy entry of repetitive paychecks.) If you have varying income, but the deductions are static, you can clone a pay stub. If you enter the pay stub in the wrong job, you can move it to another job without having to delete and retype it. You can attribute deductions to the “standard deductions” as well as special other deductions reported on the Form 22. This should save you substantial time when entering the income information.
BankruptcyPRO® will look at the filing date for the case to know which forms and Means Test data (from what iteration) to use.
We have also updated our FlashFiling interface to accommodate the recent changes to the Courts’ CM/ECF software.
Now you can attach/insert scanned documents in your Official Forms, or Scan and PDF the documents (e.g., Certificate of Credit Counseling) from within BankruptcyPRO. You can also ANNOTATE your scanned documents! You don’t need a separate program to use this feature. (You will need a scanner.) To annotate a document, you can click on the redline button or the highlight button and drag a box over the portion of the image you wish to mark. If you want to add a text notation to your scanned form, you can do that too!
For the Northern District of Texas, because of the Hardacre decision, we have enabled a special version of the means test. To use this special version, you’ll need to print it from the Plans #1 tab near the Northern District of Texas Chapter 13 plan.
In addition we’ve added a plan calculator to help you compute fixed payments and adequate protection payments. It will save you a lot of time in calculating fixed payments to creditors, especially if you have variable payments into the plan. Some of the plans in the program do not present these numbers, but it is still a useful tool to get some payment numbers for your plans. To use this feature, go to the Chapter 13 plan properties by clicking on the 13 button in the case. Then go to the Creditors tab in the plan and click on the Quick Options button. Choose the Pay Adequate Protection Calculator. You’ll be presented with a list of values you’ll need to set: Adequate Protection information, if applicable, the number of months until confirmation (your projection), the fixed payment amounts. These are generally values you would have already entered in your creditor. This calculator figures all the fixed payments to creditors, while calculating adequate protection payments and calculating attorneys’ fees to be paid at the beginning of the plan.
To View a pdf of a complete list of updated features, click here.