Completing Bankruptcy's Schedule D: Creditors Who Hold Claims Secured by Property

On Schedule D of the bankruptcy petition, you list all creditors who hold claims secured by your property.

When you file for Chapter 7 or Chapter 13 bankruptcy, you’ll have to complete and file a form called Schedule D: Creditors Who Hold Claims Secured by Property. On this form, you list all creditors who hold claims secured by your property.

(To learn about all of the forms you must file, see Completing the Bankruptcy Forms.)

How to Get Schedule D

You can find the most recent version of Schedule D on the U.S. Court’s website at www.uscourts.gov. To learn more about getting the official and other forms, see The Bankruptcy Forms: Getting Started.

What Is a Secured Claim?

In some cases, a creditor won’t loan you money unless you promise to give it property you own if you don’t make all of your payments. Often times the property you bought with the loan proceeds. These types of loans are called secured claims because if you don’t pay the debt, the creditor can take the property back. Some secured claims are debts for which you voluntarily pledge property as security (like a mortgage or car loan). Other secured claims are formed without your consent (for example, a tax lien or a judgment lien).

Creditors that hold claims secured by your property include:

  • holders of a mortgage or deed of trust on your real estate
  • creditors who have won lawsuits against you and recorded judgment liens against your property
  • doctors or lawyers to whom you have granted a security interest in the outcome of a lawsuit, so that the collection of their fees would be postponed (the expected court judgment is the collateral)
  • contractors who have filed mechanic’s or materialman’s liens on your real estate
  • taxing authorities, such as the IRS, that have obtained tax liens against your property
  • creditors with either a purchase-money or nonpurchase-money security agreement (see “What Is the Nature of the Lien” below), and
  • all parties who are trying to collect a secured debt, such as collection agencies and attorneys.

Note that credit card debt is almost always unsecured, but there are some exceptions. To learn more, see When Credit Card Debt Is Secured.

What If the Creditor Already Took the Property?

If your property was repossessed or foreclosed prior to your bankruptcy filing, the amount you still owe is no longer secured. The remaining debt is not listed on Schedule D. Instead, the balance should be listed on Schedule E/F (Creditors Who Have Unsecured Claims).

How to Complete Schedule D

Here are some general guidelines for completing Schedule D.

Indicating whether You Have Secured Creditors

The first section asks whether you have secured creditors. Check the box that applies to you. If you check no, you’re done with this form.

Listing Your Secured Creditors in Part I

If you have secured creditors, you’ll provide information about each debt in Part 1.

First column. The first column requires you to list three types of information:

  • List each creditor’s name and mailing address.
  • Check the box that best describes who owes the debt.
  • Check the community property box if it applies. To learn more about property ownership among spouses, see Separate and Community Property During Marriage: Who Owns What?
  • In the blank space next to “Date debt was incurred,” list the month and year you bought or refinanced the property.

Second column. The second column asks you to tell the court about five different types of information in the following order:

  • Describe the property that the creditor can take if you don’t pay your debt (this might be the year, make, model and mileage of your car or the address of your home).
  • Check whether the claim is contingent, unliquidated, or disputed (all or none may apply). To learn what these terms mean, see When Is a Bankruptcy Claim Contingent, Unliquidated, or Disputed?
  • Check the type of lien the creditor has (called the nature of the lien). To learn about the different types of liens, see Types of Liens.
  • Enter the last four digits of the account number.

Third column. You’ll list the total amount you owe for this debt (the amount it would take to pay it off) in the third column, “Column A.”

Fourth column. In “Column B,” you’ll list the value of the “collateral.” Collateral is just another word for the property your creditor can take if you don’t pay your debt. In most cases, you’ll list the amount it would likely sell for.

Fifth column. Sometimes you owe more money than what the property is worth. If this is the case, list the amount you owe over-and-above the value of the property in “Column C.” This excess amount is known as the unsecured portion of the property. If you owe less than the value of the property, then you enter “0” because the entire amount is secured.

Listing Others to Be Notified

Sometimes others need to know you’re filing bankruptcy, too. For example, if you owe more than one person for a debt, or if a collection agency is demanding payment, you’ll list them in Part 2.

This article provides general information only. There are many legal issues involved and important decisions to be made when filing for bankruptcy. You must understand the entire This article provides general information only. There are many legal issues involved and important decisions to be made when filing for bankruptcy. You must understand the entire bankruptcy process, learn about the applicable federal and state laws, and determine how those laws will affect your particular situation before you complete the bankruptcy forms. If you want to file bankruptcy without a lawyer, use a good do-it-yourself book like Nolo's How to File for Chapter 7 Bankruptcy to ensure you make well informed decisions about your bankruptcy case.

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