Landlords + Bankruptcy Filing: The Challenge
As landlord, preparing bank statements for bankruptcy filing is a common but time-consuming task. Bankruptcy attorneys and filers need 6+ months of bank statements for means testing, Schedule I/J preparation, and trustee review in Chapter 7 and Chapter 13 cases.
How BankScan AI Helps Landlords with Bankruptcy Filing
Convert your bank statements to Excel to easily categorise rental income, maintenance costs, and mortgage payments for self-assessment. For bankruptcy filing specifically, BankScan AI extracts Current Monthly Income (CMI) for means test, payments to creditors in the 90 day automatically.
How Landlords Handle Bankruptcy Filing
When preparing bank statements for bankruptcy filing, landlords need to Landlords review bank statements to confirm tenant rent payments have been received, match maintenance invoices against bank debits, track mortgage in. BankScan AI automates the data extraction step.
Key terms you'll encounter: rental yield, Section 24, allowable expenses, wear and tear allowance.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 6 months of statements for means test (CMI calculation); trustees may request up to 2 years to identify preferential or fraudulent transfers of statements for bankruptcy filing.
AI extracts what you need
Our AI extracts Current Monthly Income (CMI) for means test, payments to cre — formatted for landlords workflows.
Complete your bankruptcy filing work
Download Excel files ready for bankruptcy filing. Income averaged over 6-month look-back period per means test form (B122A/B122C); expenses categorized per Schedule J; transfers over $600 in prior 2 years identified for SOFA
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Landlords — Bankruptcy Filing
- Built for Landlords — Saves 1-2 hours per property per month on income and expense tracking, with portfolio landlords saving a full day each month across 10+ properties
- Software compatible — Output works directly with Excel, Hammock, Landlord Vision
- Built for Bankruptcy Filing — Convert bank statements to Excel for quick means test analysis, income/expense categorization, and complete financial disclosure required by bankruptcy courts.
- Key data extracted — Current Monthly Income (CMI) for means test, payments to creditors in the 90 days pre-filing (preferential transfers), insider payments in prior year, cash on hand at filing date
Compliance: Landlords + Bankruptcy Filing
When landlords prepare bank statements for bankruptcy filing, specific compliance requirements apply.
- Landlords must report rental income on their self-assessment tax return and can only claim mortgage interest as a basic rate tax credit since Section 24 restrictions. Records must be kept for 5 years after the 31 January submission deadline. Deposit protection scheme compliance also requires clear financial records.
- Legal basis: 11 USC section 707(b) (means test for Chapter 7); 11 USC section 521 (debtor duties including document production); Bankruptcy Rules 1007 and 4002
Bankruptcy Filing — Built for Landlords
Bankruptcy petition triggers automatic stay immediately; however, required documents (including bank statements) must be filed within 45 days or the case may be dismissed
Try Free — Landlords + Bankruptcy Filing