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This document is the Statement of Financial Affairs for Express BNBS Fashion, LLC, submitted as part of its Chapter 11 bankruptcy proceedings. It provides detailed financial information about the debtor, including gross revenue, transfers to creditors, legal actions, and financial accounts.
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01
Gather personal information: Your name, address, and contact details.
02
List all sources of income: Include wages, benefits, alimony, etc.
03
Document your monthly expenses: Detail regular bills, groceries, and discretionary spending.
04
Identify assets: List real estate, vehicles, bank accounts, investments, and personal property.
05
Disclose liabilities: Include all debts such as loans, credit cards, and outstanding bills.
06
Review each section: Ensure all information is accurate and complete.
07
Sign and date the statement: Confirm the truthfulness of the information provided.

Who needs statement of financial affairs?

01
Individuals filing for bankruptcy.
02
People undergoing financial assessments.
03
Creditors evaluating a debtor's financial situation.
04
Court officials and trustees handling bankruptcy cases.
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A Statement of Financial Affairs is a document used in bankruptcy proceedings that provides a detailed overview of an individual's or entity's financial situation, including assets, liabilities, income, and expenses.
Individuals and entities who are filing for bankruptcy, such as Chapter 7 or Chapter 13, are required to file a Statement of Financial Affairs.
To fill out a Statement of Financial Affairs, individuals must provide accurate information about their financial condition, including a list of creditors, sources of income, monthly expenses, and any property owned. It is often advisable to consult with a bankruptcy attorney for assistance.
The purpose of the Statement of Financial Affairs is to give the bankruptcy trustee and the court a clear picture of the debtor's financial history and current financial status to assess the feasibility of the bankruptcy petition.
The Statement of Financial Affairs must report information including income sources, expenses, debts, previous income and property transfers, and information about prior bankruptcy filings.
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