One of the many things you have to do when you file a Chapter 11 Bankruptcy is file a form showing that you have proper insurance. If you own a car, you must have liability insurance. If there is a lien on the car, you must show that have full coverage. Insurance requirements will vary based on what assets the debtor owns and may also require general liability insurance or specialized insurance coverages if you are actually operating a business.

The form that you must file is prescribed by the Office of the United States Trustee. If you fail to file the form and attach to it a copy of the Declarations page of the policy, the Office of the United States Trustee may move to dismiss your case for failure to follow the rules that are a part of the rules you agree to follow when you file a Chapter 11 Bankruptcy case.

Even if you have the proper insurance when you file, you must keep the insurance in force when you file the case. You must file an amended declaration page for each policy prior to the time that a policy expires with a new policy showing that the policy is now in effect. This is your responsibility and the debtor must keep the dates that will require that the debtor file the new form by the date the existing policy expires.

If you do not have insurance when you file your case, you will only have a very short period of time to get insurance and file the proper form with the declaration page.


About Nathan Davis, Esquire

Born in Charleston, South Carolina, Nathan Davis has been practicing law for many years. Mr. Davis has a wide variety of experiences having practiced domestic relations, criminal law, social security law having also practiced collection law in the past. This knowledge is helpful when someone needs to restart their financial life. The practice is now primarily bankruptcy and debtor representation work, but, Mr. Davis continues to also practice real estate law, trusts and estates and a general litigation practice. I believe that the most important part of representation is trying to leave you better off when the case is finished than when you started. Although I will do as my client directs, I will always tell you if I think that you are making a mistake. Bankruptcy is about a "fresh start". If you do not make changes in what you are doing, you will be doing what you are doing now in the future. There is no shame in bankruptcy or other steps that you may take to start your life over. Too often, people worry more about things than about themselves, their family or their future.
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