Bankruptcy Statement of Financial Affairs

What is the Statement of Financial Affairs in Bankruptcy?

A Statement of Financial Affairs (SOFA) is a required document in a bankruptcy petition that provides a detailed accounting of the debtor's financial transactions and activities. The SOFA helps the court and creditors understand the debtor's financial situation leading up to the bankruptcy filing, including any potential sources of income and assets that could be used to pay off outstanding debts.

The SOFA...