Financial advisors encounter many challenges when working with bankruptcy-facing clients.
Some clients struggle to articulate their financial standing, while others miss critical details that could impact assessments. This turns your job into a time-consuming process of piecing together a holistic picture of clients’ financial situations.
There’s no magic bullet for this problem, but a well-structured bankruptcy questionnaire can help you get over it more efficiently.
In this post, we’ll show you the most important questions to include in your questionnaire... or you can just go ahead to snag our free template instead.
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Sign up to get our pre-loaded template for free. Send our bankruptcy questionnaire to your clients as-is, or customize it as you see fit.
40+ questions to include in your bankruptcy questionnaire
Basic information
1. What is your full legal name as it appears on official documents?
2. Date of birth
3. Address
4. Citizenship
5. Email
6. Phone number
Employment and income
7. What is your current employment status?
This can be employed full-time, employed part-time, unemployed, self-employed, or retired.
8. What is your current occupation?
9. Provide a brief history of your employment over the last five years.
This includes positions held and employers.
10. Are you anticipating any changes in your income?
This can be a salary increase, bonus, or change in employment status.
11. Is there any other information about your income or employment that you believe is relevant for us to know?
If yes, please specify.
Family information
12. What is your current marital status?
This can be single, married, divorced, or widowed.
13. How long have you been in this status?
14. If applicable, provide your partner’s full name, date of birth, address, and occupation.
15. Provide details about your dependents.
This includes their names, ages, addresses, and any financial support they may require.
16. Are you currently paying or receiving child support or alimony?
If yes, please specify.
17. How would you describe your family's financial support system?
This can include details such as assistance from extended family or friends.
Household budget
18. What is your total monthly household income from all sources?
19. List your fixed monthly expenses.
These include mortgage/rent, utilities, insurance, property taxes, and other recurring expenses.
20. List your variable monthly expenses.
These include groceries, transportation, dining out, entertainment, and similar.
21. Do you have an emergency fund?
If yes, kindly state how much is currently set aside.
22. Do you currently use any budgeting tools or software to manage your finances?
If yes, please specify.
Personal assets
23. Do you own any real estate properties?
If yes, please specify details such as the type, location, and current market value.
24. List all vehicles you own.
Provide details such as the model, year, and estimated value for each.
25. Do you currently hold any investments such as stocks, bonds, mutual funds, or retirement accounts?
If yes, please specify their types and values.
26. Provide information on your bank accounts.
This includes checking, savings, and any other accounts held with financial institutions.
27. Do you own any valuable items or collections such as jewelry, art, antiques, or rare collectibles?
If yes, please specify their types and values.
28. Are there any other significant assets not covered above that you would like to disclose?
If yes, please specify.
29. Are there any outstanding loans or mortgages associated with your assets?
If yes, please provide details.
30. Have there been any recent changes in your personal asset portfolio such as acquisitions, sales, or transfers?
If yes, please provide details.
Debt details and credit history
31. Please upload your current credit score report.
32. List all active credit accounts.
These include credit cards, loans, and other lines of credit.
33. Specify the interest rates associated with each debt.
34. What are the outstanding balances on your credit accounts?
35. Have you made all credit payments on time?
If not, please specify any late payments.
36. Have you closed any credit accounts recently?
If yes, please specify why.
37. Have you co-signed any loans or opened joint credit accounts with others?
If yes, please specify.
38. List the names of your major creditors and lenders along with the types of credit they provide.
39. Are there specific debts that you consider a higher priority for repayment due to their terms or consequences of non-payment?
If yes, please specify.
40. Have any of your debts been transferred to a debt collection agency?
If yes, please specify which one(s).
41. Have you considered or utilized any debt consolidation methods to simplify your debt repayment?
If yes, please specify.
42. Are there any outstanding tax obligations or debts owed to government agencies?
If yes, please specify.
43. Are there any pending legal actions or judgments related to your debts?
If yes, please specify.
Customize your questionnaire with Content Snare
Our list of questions gives you enough material to start building your bankruptcy questionnaire, but we recommend tailoring it to provide personalized financial services. Content Snare is the perfect platform for this because it features important tools for customizing online forms.
For one, it has a drag-and-drop builder that lets you rearrange questions, sections, and pages however you want. This lets you create a more natural flow of questions to simplify the user experience. There are more than 20 field types to collect different sorts of information — from document uploads and tables to multiline text and dropdowns.
Your clients will know exactly how much work is left to do thanks to the progress bar they see when completing your questionnaire. There’s no need to save answers manually because Content Snare does it automatically, so no work can be lost in the process. What’s best, automated reminders will gently nudge your clients to come back and fill out the entire form.
Many other features make Content Snare the best tool for building your bankruptcy questionnaire, so feel free to test them yourself. We give you a 14-day free trial — no credit card needed.
