Unfortunately, bankruptcy debtors, especially those that represent themselves, often make errors on their bankruptcy petition, schedules, or statement of financial affairs. However, while they may correct any mistakes with the necessary amendments, retaining an experienced bankruptcy attorney like Alberto Montefalcon at the very inception of financial problems and the need to file bankruptcy may forego any such difficulties with filing complete and accurate bankruptcy documentation.

Bankruptcy Rules of Procedure 1009 allows debtors the right to amend “a voluntary petition, list, schedule, or statement . . . as a matter of course at any time before the case is closed.” Other parties in interest, such as a creditor, may also amend the aforementioned bankruptcy documents. A bankruptcy court may order any voluntary petition, list, schedule, or statement to be amended on the motion or request of a party in interest after notice and a hearing.

A bankruptcy debtor signs a declaration stating under penalty of perjury that all of the contents of any filed bankruptcy schedules, statements, etc. are true and correct. This must again be drafted, signed, and filed for any amendments to the bankruptcy petition, schedules, or statement of financial affairs. Some amendments, such as additions and deletions to a creditor’s master mailing list, cost a minimal fee.

A debtor must amend a Chapter 7 statement of intention regarding any personal property that is the subject of a security interest not later than 45 days after the first meeting of creditors. If this is neglected, a debtor may not later change a prior intention and must reaffirm, redeem, or relinquish the personal property as stated in the originally-filed statement of intention.

If you are behind on payments for any outstanding debts, bankruptcy may a solution to keeping your motor vehicle. The experienced Sacramento metropolitan area/Northern California attorneys at the Montefalcon Law Offices are here to help you if your financial position necessitates the consideration of a bankruptcy case filing under Chapter 7, 11, or 13. Contact us online or schedule a consultation at any of our three conveniently located offices. Telephone our downtown Sacramento office at (916) 444-0440, our South Sacramento office at (916) 399-9944, or our Concord office at (925) 222-5929.