The Clerk of the U.S. Bankruptcy Court for the Northern District of Illinois has just issued an updated version of the form required to accompany all motions for relief from stay. The form includes the following items:
Debtor, Creditor, Relief Sought, Chapter 13 Confirmation Date Hearing or Date Confirmed;
Chapter 7 Report of No-Assets or Date of 341 Meeting of Creditors, Type of Collateral, Balance Owed, Other Liens Against Collateral, Estimate Value of Collateral;
Default, Pre-Petition, Post-Petition, Number of Months, On Direct Payments, On Payments to Trustee;
Other Allegations, Lack of Adequate Protection, No Insurance, Taxes Unpaid, Rapidly Depreciating Asset, Other;
No Equity, Not Necessary For An Effective Reorganization, Other Cause, Bad Faith, Multiple Filings;
Debtor’s Statement of Intention Regarding the Collateral, Reaffirm, Redeem, Surrender, No Statement Filed.
After close scrutiny, you will notice that there are some additional line items that were not present in the prior version of the form. I think that creditors will have an easy time adjusting to the new, updated form.