Schedule I – Current Income of Individual Debtor(s)
INSTRUCTIONS : SCHEDULE I CURRENT INCOME OF INDIVIDUAL Debtors (Form B-6I)
• Schedule I, which is a necessary form in a bankruptcy filing, deals with the current income of debtors—both joint and single filings apply. When filling-out Form b-6I Schedule I, it is crucial to be completely honest when entering the requested information—lying or submitting inaccurate information will raise flags and could further delay your bankruptcy filing. It is a terrible idea to understate your income; this maneuver will invariably lead to complications and in most cases, legal action taken by the particular court system.
Preparing to File Schedule I
• Before filing schedule I, be sure to have any and all income statements at hand. This includes all pay stubs, business income, social security and income generated from pensions. Anything that generates a monthly income must be entered on this particular schedule.
Filing Schedule I
• At the top of the form, you will be asked to enter your name, marital status and any dependents. In this section you will also be asked to fill in your place of work, as well as the address and workplace of your spouse if applicable. Spousal information must be entered even if you are filing a separate case.
• Questions one through six on the form will require you to access your pay stubs and income statements. Take the most recent month’s income and total it up; take this figure and enter it on line 1. Following the input of this information, add up all payroll deductions for that month and enter them on the appropriate liens.
• Questions 7 through 13 are related to all other forms of earned income apart from wages—if there is money coming in from any other source enter the corresponding information. If there is no income accrued outside of wages, enter a zero to indicate that there is nothing to report. Once you have filed this information you can move on, but as stated before, do not underestimate your income—it is illegal and you will surely get caught.