Schedule C – Property Claimed as Exempt
INSTRUCTIONS : SCHEDULE C -PROPERTY CLAIMED AS EXEMPT (Form B-6C)
Introduction to the Form B-6C Schedule C -Property Claimed as Exempt
• Form B-6C, Schedule C is the form that lists all property, claimed as exempt under your particular bankruptcy filing. This particular form is a compliment to the other forms you will be filing that will detail your possession of real and personal property. As such, the filing of the Form B-6C will require the completion of additional forms with regard to your Bankruptcy filing or claim.
• Bankruptcy is a legal classification applicable to financial circumstances and situations within which individuals or entities are considered to be financially insoluble – this classification implies that the respective debt incurred outweighs the total value of assets and monies in the possession of that individual or entity.
Accessing the Form B-6C Schedule C -Property Claimed as Exempt
• Typically, you will be required to furnish your Form B-6C Schedule C -Property Claimed as Exempt – in addition to any or all supplemental forms – to the bankruptcy court applicable to the jurisdiction within which you reside; upon contacting your jurisdictional bankruptcy court, you can access a Form B-6C Schedule C -Property Claimed as Exempt, as well as supplemental bankruptcy forms required with regard to your specific circumstance.
The Form B-6C Schedule C -Property Claimed as Exempt Filing Process
• The Form B-6C Schedule C for property claimed as Exempt contains only 1 page; the form will first ask for your name and your case number. Following the input of this basic information you will be required to enter the type of exemptions that are entitled to either under 11 U.S.C 522 B 2 or 11 U.S.C 522 B 3. You may also check, in the space provided, if you claim a homestead exemption that exceeds $146,450.
• The petition consists of 4 columns, each column will ask for information regarding your exempt property. The first column will ask for a brief description of your exempt property; the second column will ask you to cite the specific law to warrant exemption; the third column will ask for the value of your claimed exemption; and lastly, the fourth column will ask for the current value of the property minus and deductions for exemption.