The Schedule J is in many respects the mirror of the Schedule I. Formally known as "Schedule J - Current Expenditures of Individual Debtor(s)," this form requires you to detail your monthly expenses when filing for bankruptcy. When you put the Schedule I and the Schedule J side by side, you can then obtain a clear picture of your financial health on a monthly basis.
Housing
The first line requires you to disclose how much you pay each month for rent or for your mortgage. Note that this includes the amount for renting a lot for a mobile home. Sub row (a) and (b) require you to check "Yes" or "No" as to whether or not property taxes are included in your monthly payment and whether property insurance is included, respectively.
Utilities
The second line asks you about how much you pay in utilities at your home. These amounts are broken down into four categories. Sub row (a) asks you how much you pay for electricity and heating fuel. Sub row (b) asks about water and sewer expenses. Sub row (c) is for telephone charges. Finally, sub row (d) is the "Other" category. You might include an expense such as garbage charges here.
Home Maintenance
Line three requires you to indicate your monthly expenses towards home repair and upkeep. For example, this could include roof repair expenses.
Personal Expenses
The next few lines involve personal monthly expenses. Line four asks about your monthly food expenses. Line five requires you to disclose your clothing budget. Line six is for laundry and dry cleaning expenses. Line seven is for dental and medical expenses. Line eight is for travel costs. Note that this does not include a car payment. Line nine is for recreation and entertainment costs. Line ten is for charitable contributions.
Insurance
Line eleven is broken down into several categories which help you explain your monthly insurance expenses. It is broken down into homeowner's/renter's insurance, life insurance, health insurance, automobile insurance, and any other insurance.
Taxes
Line twelve is for taxes that are not deducted from your monthly gross wages or included in your mortgage payment. For example, this may be a monthly payment you make to the IRS on a tax debt.
Installment Payments
Line thirteen is for installment payments. This usually refers to car loan payments.
Alimony and Support
Line fourteen is for alimony and child support payments that you make each month.
Line fifteen is for expenses that you incur while supporting dependents not living at your home. This could include your eighteen year old college student child that you still support.
Business Expenses
Line sixteen asks about regular expenses from the operation of a business, profession, or farm. Include a detailed statement of the expenses.
Other
Line seventeen is a blank "Other" category if you have any other monthly expenses not already disclosed. For example, if you make a yearly car registration payment, include that here and prorate it on a monthly basis. For example, if your car registration is $200 per year, divide that amount by twelve and enter that amount on this line. Total your expenses on line eighteen.
Expected Changes
Line nineteen asks about any expected changes in your expenses over the next year, similar to the question on the Schedule I.
Comparison with Income
Line twenty requires you to enter your average monthly income from line fifteen on Schedule I (enter that on sub row (a)) subtract your expenses from line eighteen on this form (enter that amount on sub row (b)), then enter the total next to "Monthly net income" in sub row (c). Make sure to indicate if this amount is negative.
