Switch to ADA Accessible Theme
Close Menu
Florida Bankruptcy Lawyer
Call Today For A Free Consultation 866-907-2970 Hablamos Español

$0 down and low payment plans available. We can assist you without having to leave your home.

What Assets Must You Disclose when You File for Bankruptcy?


A key part of any bankruptcy filing is the schedule of assets you submit to the court. These assets include anything you own or are entitled to receive when you file. Although a Chapter 13 bankruptcy protects assets from liquidation, the trustee can take assets in a Chapter 7 bankruptcy and sell them, unless you can find a way to make them exempt. The bankruptcy court lists the following types of assets that you must disclose.

Real Estate

You should list all properties in which you have a legal interest. The bankruptcy schedules require that you identify the location of the property, the type of property (single-family home, duplex, etc.), and the current value. You also must state the size of the mortgage that remains unpaid and any other liens.

You should list all real estate, whether inside Florida or not, and whether you own the property by yourself or jointly.


A debtor must also disclose all:

  • Cars, trucks, vans, and SUVs
  • Motorcycles
  • Watercraft
  • Aircraft
  • ATVs and other recreational vehicles
  • Motor homes

You will need to provide relevant information such as the make, model, year, and mileage.

Cash on Hand

Do you have money stashed under a mattress or in an envelope in your kitchen junk drawer? You need to disclose this.

Bank Accounts

If you have money in a savings or checking account, you also must list it. Other bank accounts include certificates of deposits or shares in a brokerage house or credit union, all of which must be disclosed.


You will need to disclose all kinds of investments, such as retirement or pension accounts (IRA, 401(k), etc.), bonds, annuities, stocks, and mutual funds, among other investment vehicles.

Business Property

If you have a legal interest in business property, you must list it. For example, you might be a sole proprietor, which means business assets are titled in your own name. You will have to disclose office equipment, supplies, accounts receivable, machinery, customer lists, and inventory. If you have a partnership or joint venture, you must also list your interest.

Other Personal Property

This includes all non-real estate that you own. On the bankruptcy schedules, personal property is divided multiple categories, including:

  • Electronics
  • Firearms
  • Clothes
  • Collectibles
  • Household furnishings, such as major appliances and furniture
  • Jewelry
  • Non-farm animals (which includes pets)

Assets You Are Entitled to Receive

This category often trips people up. You must list any asset you are entitled to receive, even if you do not yet have physical possession of it. For example, you might have published a book that is earning royalties, even if they have not yet been paid out to you. You must disclose the amount you are set to receive.

You should also include any money you have loaned to someone else or security deposits paid to your landlord when you rented an apartment. You have a legal right to get that money back, so it matters in a bankruptcy.

Filers also must disclose any asset they are entitled to receive within 180 days after they filed for bankruptcy. This can include proceeds from your divorce settlement or an inheritance left by a loved one who has died.

Contact Us for Help Filing

Your odds of successfully completing bankruptcy increase if you hire a lawyer. Contact Nowack & Olson, PLLC today at to schedule a free consultation with one of our Plantation bankruptcy attorneys.


Facebook Twitter LinkedIn