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Yes! You can use AI to fill out Official Form 107, Statement of Financial Affairs for Individuals Filing for Bankruptcy (04/19)

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Official Form 107, Statement of Financial Affairs for Individuals Filing for Bankruptcy (04/19), page 1
Very Complex · 100/100Form Complexity Index

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What this form asks for

The AI fills all of it, from your answers or your documents.

Official Form B 107, the Statement of Financial Affairs for Individuals Filing for Bankruptcy, is a comprehensive document required by the U.S. Bankruptcy Courts. It provides a detailed overview of the debtor's financial history, including income, payments to creditors, property transfers, gifts, lawsuits, and business connections for a specific period before filing. This information is crucial for the trustee and the court to assess the debtor's financial situation and ensure a fair process. Today, this form can be filled out quickly and accurately using AI-powered services like Instafill.ai, which can also convert non-fillable PDF versions into interactive fillable forms.
Fillable fields604
Pages12
Sections94
Tables and lists12
Questions that depend on earlier answers463
Form Complexity IndexVery Complex, 100/100

The AI checks your answers before you download

15 checks built for this form, so a wrong date or a missing answer is caught before anyone else sees it.

Exclusive Marital Status Selection

This check ensures that only one of the 'Married' or 'Not married' checkboxes is selected. A debtor cannot be both married and not married at the same time. If both options are selected, the form submission should be flagged for review or rejected, prompting the user to choose only the single, correct option.

Conditional Prior Residence Disclosure

This validation verifies that if the 'Yes' box for 'Lived Somewhere Else in Last 3 Years' is checked, then the address details for at least one prior residence are provided. Conversely, if 'No' is checked, the prior residence sections must be empty. This prevents incomplete disclosures when required and ensures extraneous data is not provided when not applicable.

Prior Residence Date Chronology

This check validates that for each prior residence listed, the 'Start Date' is chronologically before the 'End Date'. An end date that precedes a start date is a logical impossibility and indicates a data entry error. This validation is crucial for establishing a clear and accurate timeline of the debtor's residency history.

Debtor 2 Prior Address Consistency

This validation ensures that if the 'Same as Debtor 1 (address)' checkbox is checked for a prior residence, the separate address fields for Debtor 2 are disabled and left blank. If the box is unchecked and a Debtor 2 is listed on the case, the Debtor 2 address fields become required. This prevents the submission of redundant or conflicting address information for co-debtors.

Employment Income Disclosure Trigger

This check confirms that if the user selects 'Yes' to having 'Employment/Business Income', then at least one income type checkbox (e.g., 'Wages, commissions...') is checked and a corresponding gross income amount is entered for at least one debtor. Answering 'Yes' without providing any specific income details is an incomplete answer. The validation should prompt the user to either provide the income details or change the answer to 'No'.

Income Year Chronological Accuracy

This validation compares the years entered for 'Last Calendar Year' and 'Calendar Year Before Last' against the current filing date. The 'Last Calendar Year' must be the year immediately preceding the current year, and the 'Calendar Year Before Last' must be the year before that. This ensures the income history is reported for the correct, distinct, and legally required time periods.

And 9 more checks
  • Creditor Payment Threshold Verification
  • Exclusive Lawsuit Status Selection
  • Mandatory Creditor Payment Details
  • 'Other' Category Specification Requirement
  • Date Format and Plausibility
  • Business Connection Detail Requirement
  • Debtor 2 and Marital Status Consistency
  • Gift Value Threshold Confirmation
  • Bankruptcy Case Number Formatting

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How to Fill Out B 107 Online for Free in 2026

What the AI walks you through.

  1. Navigate to Instafill.ai and upload or select Form B 107, the Statement of Financial Affairs.
  2. Provide your personal and case identification details, including your name, spouse's name (if applicable), court district, and case number.
  3. Use the AI-guided prompts to disclose your income from employment, business operations, and other sources for the current and previous two calendar years.
  4. Detail all relevant financial transactions, such as payments to creditors, payments to insiders, gifts, property transfers, repossessions, and lawsuits within the specified look-back periods.
  5. Answer questions about any business connections, safe deposit boxes, stored property, and environmental law liabilities.
  6. Carefully review all the information auto-filled by the AI for accuracy and completeness, then electronically sign and date the form to certify its truthfulness.
  7. Download your completed and signed Form B 107, ready for filing with the bankruptcy court.

Common Mistakes in Completing B 107

The ones the AI is built to catch.

Reporting Net Income Instead of Gross Income
Filers often mistakenly enter their take-home pay (net income) instead of their total earnings before any taxes or deductions (gross income). This happens because people are more familiar with their net pay from bank deposits. Incorrect income reporting can lead to inaccurate calculations for the means test, potentially jeopardizing case eligibility and causing delays or dismissal. To avoid this, carefully review pay stubs and tax documents for gross earnings, and consider using AI-powered tools like Instafill.ai which can help extract the correct figures from uploaded documents.
Omitting 'Insider' Payments
Many people fail to report payments made to 'insiders' within one year of filing, often because they don't understand the broad definition of an insider, which includes relatives, business partners, and corporations they control. A common example is repaying a loan to a family member, which must be disclosed. Failure to report these payments can be viewed as preferential treatment and may lead the bankruptcy trustee to 'claw back' the funds from the recipient, creating legal issues for both the filer and their relative.
Forgetting to List Closed Financial Accounts
The form requires listing all financial accounts closed, sold, or transferred within the last year, but filers often focus only on their active accounts and forget to include these. This oversight can raise red flags for the trustee, who will want to know why the account was closed and where the funds went. To prevent this, review bank statements from the past 12-18 months and use form-filling tools like Instafill.ai that can prompt you for this specific information, ensuring all financial history is accurately reported.
Inaccurate Prior Residence History
Filers must list every address they have lived at for the past three years, but they often make mistakes with dates or forget short-term residences. For joint filers (Debtor 1 and Debtor 2), the complexity increases, leading to confusion when filling out separate address histories. Inaccurate residency information can affect which state's exemption laws apply and can cause delays or require amendments. It is crucial to create a precise timeline of all addresses before starting the form.
Failing to Disclose All Gifts and Transfers
The form requires disclosing gifts over $600 to any one person and any property sold or transferred outside the ordinary course of business within the last two years. People often forget small, regular gifts that add up or don't think selling a car to a friend for a low price counts as a reportable transfer. Hiding or forgetting these transactions is a serious error that can result in denial of bankruptcy discharge, as the trustee needs to ensure assets were not improperly given away to avoid paying creditors.
Confusing Creditor Payment Thresholds
Question 6 has different reporting thresholds for payments made to creditors within 90 days of filing: $600 for consumer debts and a higher amount (e.g., $6,825) for non-consumer debts. Filers frequently misunderstand the distinction between debt types or apply the wrong threshold, leading to under-reporting or over-reporting. This error can cause the trustee to question the accuracy of the entire filing. AI-powered tools can help by applying conditional logic to guide users through these complex questions.
Incomplete Business Disclosures
The form asks for any connection to a business within the last four years, including being a sole proprietor, partner, or officer. Filers often neglect to list defunct businesses, side hustles, or minor LLCs they were a part of, thinking they are no longer relevant. This omission is a significant error, as the trustee must evaluate all potential business assets and liabilities. A thorough review of personal and financial history from the last four years is necessary to ensure complete disclosure.
Contradictory Yes/No Answers and Conditional Fields
This form is filled with conditional logic, where answering 'Yes' to a question requires filling out a detailed sub-section. A frequent mistake is checking 'No' but filling in the details anyway, or checking 'Yes' and leaving the required fields blank. This creates confusion and signals carelessness, prompting scrutiny from the court. If the form is a non-fillable PDF, tools like Instafill.ai can convert it into an interactive version with smart logic to prevent these contradictory entries.
Omitting Minor or Concluded Lawsuits
Filers are required to list any lawsuit they were a party to within the last year, but often forget about cases that have been concluded, dismissed, or seemed minor, such as small claims court or a settled collection suit. They may also forget they were a plaintiff in a case. The trustee needs a complete picture of all legal entanglements, as they could involve potential assets (from a settlement) or liabilities. It is critical to list every single case, regardless of its status or outcome.
Forgetting to Report All Sources of 'Other Income'
Beyond regular employment, the form requires reporting 'Other Income' from sources like alimony, child support, rental income, freelance work, or even regular cash contributions from family. People often forget these less-formal income streams, especially if they are irregular or not reported on a W-2. This under-reporting can lead to a dismissal of the case if discovered, as it misrepresents the filer's true financial situation. A careful review of all bank deposits and financial records is essential to capture every income source.

Frequently Asked Questions About B 107

 

Is it really free for 7 days?
Yes. You pay $0 today. Cancel before Nov 18 and you are never charged. Keep it, and it is $19.99 a month for 5 fills of your B 107.
Can I fill other forms too?
This plan is for your B 107: your own AI agent fills it as often as 5 times a month. To fill other forms and upload your own, choose a Professional plan from your account.
How do I cancel?
From your account, in two clicks, any time. No email, no call.
How does the AI fill out B 107?
You answer a few questions in plain words, or upload your W-2 or last year's return. The AI reads what you give it and puts each answer into the right field of B 107, on every page, in seconds. It checks the answers against the form's own rules, and you review and change anything before you download, print or sign.
What happens to my information?
It is encrypted in transit and at rest, and it is never used to train AI.
How complex is B 107 to fill out?
B 107 has a Form Complexity Index of 100 out of 100, in the very complex tier: 604 fillable fields across 12 pages. Instafill.ai's AI fills it in under a minute, with every field there for you to review before you download.
What is the purpose of this form, the Statement of Financial Affairs?
This form, officially known as Form 107, provides the bankruptcy court with a detailed overview of your financial history. It requires you to disclose information about your income, payments to creditors, property transfers, and other financial transactions from the past several years.
Who is required to fill out this form?
Anyone filing for personal bankruptcy, referred to as the 'Debtor', must complete this form. If you are filing jointly with a spouse, you will both provide your information, often designated as Debtor 1 and Debtor 2.
How do I report my income from the last two years? Should I use gross or net income?
You must report your gross income, which is the total amount you earned before any taxes or deductions were taken out. The form asks for income from employment, business operations, and other sources for the current year-to-date, the last full calendar year, and the calendar year before that.
What is an 'insider' and why do I have to report payments to them?
An insider is a relative, partner, or business in which you have a significant ownership stake. The court requires you to disclose payments to insiders made within one year of filing to ensure you haven't unfairly paid back friends or family ahead of other creditors.
What is the difference between consumer and non-consumer debt for reporting payments in Question 6?
Consumer debts are incurred for personal, family, or household purposes, like credit cards or car loans. If your debts are primarily consumer, you must report payments over $600 to any single creditor in the 90 days before filing; otherwise, the threshold is higher.
My spouse and I lived separately before moving in together. How do we list our prior residences?
You must list all addresses where you have lived in the last 3 years. If you and your spouse (Debtor 2) had different prior addresses, you will uncheck the 'Same as Debtor 1' box and fill in the separate address information for Debtor 2.
I had a side business that I closed three years ago. Do I need to report this in the 'Business Connections' section?
Yes, you must report any connection to a business within the last 4 years before filing. This includes being a sole proprietor, partner, or officer, even if the business is now closed.
Why do I need to list financial accounts that I've already closed?
The court needs a complete picture of your financial activities leading up to the bankruptcy filing. You must report any financial accounts that were closed, sold, or transferred within 1 year of your filing date, including the final balance.
My car was repossessed 10 months ago. Do I need to report this?
Yes, you must report any property that was repossessed, foreclosed, garnished, or seized within 1 year before you filed for bankruptcy. You will need to provide the creditor's name, the date of the event, and the property's value.
Do I have to list small birthday or holiday gifts I gave to my children?
You only need to report gifts if the total value given to a single person exceeded $600 within the 2 years before you filed for bankruptcy. You do not need to list small, incidental gifts that fall below this total amount per person.
What does the 'Amended filing' checkbox at the top of the form mean?
You should check the 'Amended filing' box if you are submitting a corrected or updated version of a Statement of Financial Affairs that you have already filed with the court. Do not check this box if this is the first time you are submitting the form for your case.
Can AI tools help me fill out this form?
Yes, services like Instafill.ai use AI to accurately auto-fill form fields from your documents, which can save you significant time and help prevent errors. This is especially useful for a detailed form like the Statement of Financial Affairs.
How can I use Instafill.ai to complete this form online?
Simply upload the form to the Instafill.ai platform, and its AI will identify the fields and help you fill them in. You can then review the information, make any necessary edits, and download the completed document.
The PDF version of the form I have is not fillable. What should I do?
If you have a non-fillable or 'flat' PDF, you can use a service like Instafill.ai to convert it into an interactive, fillable form. This allows you to easily type your information directly into the fields online.
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