Define the question before choosing an answer
Use this guide to organize Chapter 7, Chapter 11, Subchapter V, Personal Guarantees and Asset Questions. Start with the controlling record and date, then connect the issue to the bankruptcy chapter, property, debts, and local procedure that may change the answer.
Evidence file for Small Business Bankruptcy
Chapter 7
The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.
Chapter 11
The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.
Subchapter V
The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.
Personal Guarantees
Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments.
Asset Questions
Ownership, current value, liens, acquisition date, supporting records, expected payments, and recent changes.
Facts that shape the review
- Separate the entity from the individual: ownership, guarantees, taxes, leases, payroll, receivables, collateral, and recent owner transactions may point to different options.
Issue log
| Issue | Evidence to preserve | Open question |
|---|---|---|
| Chapter 7 | The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it. | |
| Chapter 11 | The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it. | |
| Subchapter V | The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it. | |
| Personal Guarantees | Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments. | |
| And Asset Questions | Ownership, current value, liens, acquisition date, supporting records, expected payments, and recent changes. |
Questions that can change the next step
| Question | Your facts |
|---|---|
| What exact outcome is needed? | |
| What date changes the next step? | |
| Which fact remains unverified? |
Timing caution
If a sale, hearing, deduction, seizure, shutoff, or response deadline is near, use qualified local help rather than waiting for general online information.
Verify with current sources
U.S. Courts Bankruptcy Basics · Official Bankruptcy Forms · Current Means Testing Data · Official source directory