Schedule I: Your Income

Produced by Attorney Mariah Jennings-Rampsi for MassLegalHelp
Created October 2016

On Schedule I list all the income you get right now.

Get Schedule I: Your Income form from the US Bankruptcy Court website.

Save the form on your computer.

In the top box put your name and your spouse’s if you are both filing.

Put in “Mass.” after “District of”.

The clerk will give you the Case No. when you file your Bankruptcy Petition.

The top box of most Bankruptcy forms.

Most of Schedule I is easy to fill out. Some parts of the form are not so easy to understand. It is important to understand the question before you answer it.

Part 1 Describe Employment

Check the box for “Employed” or “Not employed” for you and your spouse.

Check the box for your spouse even if your spouse is not filing for bankruptcy with you.

Next, put your

  • job title,
  • employer,
  • your employer’s name,
  • employer's mailing address, and
  • how long you have worked for your employer. 

If you are married, fill in your spouse’s employment information too. 

If you or your spouse have more than one job, list it on a second sheet of paper.  Attach the paper behind Schedule I. 

Part 2 Give Details About Monthly Income

Lines 2 to 7 are only for your current employment income.

If you do not have a job, skip ahead to line 8 “Other Income.

Line 2. If you have a job, add up your income from all your jobs and enter the monthly total. Do not include overtime.

What if my pay is always different?

You will have to write the average amount. To get the average:

  • Add up the past six months: __________
  • Divide that number by six: ___________
  • This is your average income for the past six months. 

If you have had your job for less than 6 months:

  • Add up all the non-overtime income you have earned since you began working there.
  • Divide that amount by the number of months you have worked there. 

Put your spouse’s income under “Spouse.” 

If you are married, add information about your spouse for every line on the form.

Line 3. Put the average amount of monthly overtime you have earned in the last 6 months.Also enter any extra pay for working special shifts.

Line 4. Add Lines 2 and 3. This is your total monthly income.

Line 5. You can find payroll deductions on your paystubs. For example, social security, union dues and FICA. Copy these deductions onto this form.  If the deductions are different on each paystub/slip, average them:

Add each type of deduction on your last 6 paystubs or slips and divide by 6.

Use the calculator to add up deductions from your last 6 paystube, then divide by 6.

Under 5h “Other deductions,” list any garnishments for court fines, back taxes, child support, or student loans. These debts will not be wiped out in your bankruptcy.

Do not list any garnishments for debts that will be discharged in your bankruptcy.  Do not list garnishments for credit cards that a judge ordered your employer to pay out of your pay check.

Line 6. Add all your paycheck deductions. 

Line 7. Subtract all your deductions on line 6, from your earned monthly income, line 4.This is your monthly take home pay.  

Line 8. Other Income

Put any money you get every month from

  • a business you own,
  • rental property,
  • interest or dividends,
  • accounts or investments,
  • child support or alimony payments. 

Only list payments that you actually get.

Lines 8d, 8e, and 8f. Put any government benefits you get each month.  These include Social Security, SSI, Social Security Disability, Unemployment, Veteran’s Administration benefits, TANF, food stamps, and federal education grants that are for your living expenses. 

Line 8g. Include any monthly pension or private retirement payments you receive from a previous employer.

Line 8h. Put any other monthly income you have not listed.  For example, if a charity gives you money every month to help with groceries, put that here.  If you get private grant money for school, only list amounts you receive that are for living expenses, not books or tuition.

Line 9. Put your total non-employment income.

Total Income

Add lines 7 and 9 together. Put this amount on Line 10.

Line 11. List any other  money you get that pays your bills like your father paying your electric bill.

Line 12. Put your and your spouse’s average monthly income.

Finally, tell the court if you expect your income to go up or down in the next year. Only list something if you are pretty sure it will happen.  Also, only list it if it will change your income by 10% or more. For example:

  • You are working right now but you know you will be laid off in the winter. 
  • You are waiting for SSDI benefits that should be starting soon.
  • You are not working, but expect to get a job soon.

Filing without a lawyer

  • Bankruptcy is complicated. Filing without a lawyer is risky.
  • You can lose property and money. You can go to jail if you do not tell the truth.

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