Filing for bankruptcy protection may feel overwhelming or intimidating, understanding Bankruptcy Schedules can help you. You may be wondering what the process is and what you need to do to actually file. If you are facing a major debt problem, bankruptcy may be the best option for you. If this is you, it is time to consult with a knowledgeable bankruptcy attorney and have all of your questions answered and concerns quelled. Our Savannah-based bankruptcy law firm offers free consultations, contact us here or call (912) 351-9000.

The Bankruptcy Petition

To file for bankruptcy protection you must file a bankruptcy petition with the United States Bankruptcy Court, generally in the district in which you live. The bankruptcy petition is comprised of standard federal and local forms and other documents. Your bankruptcy attorney will complete your bankruptcy petition on your behalf. Before filing you will review your petition to ensure it is complete and accurate to the best of your knowledge.

There are a number of things you must disclose in your bankruptcy petition, including your monthly income and expenses.

Income Minus Expenses – Bankruptcy Schedules

Two of the standard federal bankruptcy forms are Schedule I which lists your income and Schedule J which lists your expenses. At the bottom of Schedule J, is a calculation of your income minus expenses. This calculation is important because it helps determine if bankruptcy is a feasible option for you.

  • Budget information is important for analyzing if you cannot afford to pay back your debt and whether bankruptcy makes sense.
  • The amount of money left over at the end of each month is critical for determining whether or not you can afford to fund a Chapter 13 Plan.
  • For the purposes of Schedule I, your gross monthly income is calculated based on the previous six months.
  • For the purposes of Schedule J, your monthly expenses include some of your actual expenses and set numbers for some of your allowable monthly expenses, as determined by the Bankruptcy Code and IRS standards.


The Bankruptcy Trustee assigned to your case will review your income and expenses. Also, your creditors (the people and entities to whom you owe money) are permitted to examine the information contained in your bankruptcy petition, including your income and expense Schedules. Though, creditors rarely review this information, just as they rarely attend the Meeting of Creditors.

Hire the Premier Bankruptcy Law Firm in Savannah

Together we will work through the bankruptcy petition. We will help you properly list your income and expenses. Prior to filing, you will review your entire bankruptcy petition to ensure that is it complete and accurate. The experienced attorneys at The Law Office of Barbara B. Braziel are committed to making the bankruptcy process as smooth as possible for all of our clients.

We’re located in the Savannah, GA area. Contact us for a free consultation to discuss the benefits of filing for bankruptcy.

Reach out to us by email at or call (912) 351-9000.

Find out more about Bankruptcy in our guide: All About Bankruptcy

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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