Cash is the lifeblood of any human activity. If you do not have the necessary cash, you are considered to be bankrupt in the U.S. Today, many citizens file for bankruptcy. Taking this into consideration, the U.S. government has come up with chapters to deal with bankruptcy. One of the many chapters is Chapter 7 bankruptcy. This is also called straight bankruptcy and is a liquidation proceeding. This way it saves the debtor from loosing all his assets. Moreover, it helps to give a person a fresh start in his financial career.

A certain number of forms need to be completed to proceed with the bankruptcy chapters. Chapter 7 bankruptcy is no different. This form gives a statement of the current monthly income and expenditures and is completely official in nature. This has to be completed by most of the individuals filing for bankruptcy relief. hapter 7 bankruptcy forms includes a form that serves as a means of testing purpose of the debtor filing under the said chapter. Some of the questions and details asked on these forms come from the Census Bureau and the Internal Revenue Service.

As one starts filling out the forms and makes a petition for the Chapter 7 bankruptcy, he needs to give the following list of details. The form will need a list of all creditors, the amount and the nature of claim involved. It will also have to provide proper details about the source, amount, and the frequency of the debtor?s income. Moreover, one should also include information pertaining to the debtors? property and monthly living expenses, such as utilities, taxes and expenses on medication and transportation