The one-sentence version
Schedule G lists every ongoing contract and unexpired lease you're a party to - the trustee uses it to decide what to "assume" (keep), "reject" (terminate), or leave alone.
What "executory" means
A contract is executory if both sides still have material obligations remaining. A finished, fully-performed contract isn't executory - you don't list a credit card account here because once you've borrowed, the credit card company has no further obligation to you. But an apartment lease is classically executory: you keep paying rent, the landlord keeps providing the apartment.
What goes on it
Common examples:
- Residential lease on your apartment
- Commercial lease if you have a business location
- Car lease (not a car loan - that's secured debt on Schedule D)
- Cell phone contracts with remaining term
- Gym memberships with remaining contractual term
- Storage unit rental agreements
- Equipment leases (rented appliances, copy machines, medical equipment)
- Service contracts - alarm monitoring, lawn care, internet, cable (if multi-year)
- Memberships with binding terms - timeshare maintenance agreements, country clubs
- Personal services agreements
- Real estate purchase contracts where you're under contract to buy but haven't closed
For each, you list:
- The other party's name and address
- A description of the contract or lease
What happens after you list it
The Chapter 7 trustee evaluates each item:
- If the contract benefits the bankruptcy estate (e.g., a below-market lease the trustee can assign for a fee), the trustee may assume it.
- If the contract is a money loser for the estate, the trustee usually does nothing - meaning the contract is "deemed rejected" 60 days after the order for relief, and the other party gets an unsecured claim for any rejection damages.
Practically speaking, in nearly every consumer Chapter 7, the trustee leaves all the contracts alone. The lease gets "deemed rejected," the gym membership goes away, and the other party becomes a general unsecured creditor for whatever's left owed.
Good to know: If you want to keep your apartment after filing, you don't need to do anything special - just keep paying rent on time. Landlords almost always continue accepting payment from a current tenant in good standing. The bankruptcy doesn't terminate the lease automatically; rejection is a trustee's affirmative decision, and rejection in a consumer case is rare.
If you're behind on rent
The bankruptcy automatic stay temporarily stops a residential eviction - but only if:
- The landlord hasn't already gotten a judgment for possession before you filed (if they did, you have to file an extra form and deposit 30 days' rent with the court to keep the stay in place); and
- You keep paying current rent going forward.
The pre-filing arrears can usually be discharged as a general unsecured debt - but if you want to stay in the unit, the landlord can require you to bring the lease current as a condition of you keeping it.
Car leases - special note
A car lease isn't a secured debt. You don't own the car; you're using it under a lease. The lease goes on Schedule G. Your options:
- Assume the lease and keep making payments (you have to formally assume within 60 days of filing under 11 U.S.C. Section 365(p), or the lease is deemed rejected).
- Let the lease be rejected, return the car, and walk away from any deficiency.
Watch out: Confusing a car lease with a car loan is the #1 Schedule G error. A lease has a stated term, an agreed-upon mileage cap, and a "return at end" provision - it goes on Schedule G. A loan has a payoff balance, gives you title when paid off, and goes on Schedule D as a secured debt.
Common mistakes
- Listing a fully-performed contract (you already paid in full, they already delivered). It's not executory anymore.
- Listing a credit card account. Credit cards aren't executory contracts - the bank's "obligation" to lend more is at their discretion.
- Forgetting cell phone contracts. The 2-year obligation is executory and may have early-termination fees.
- Forgetting your storage unit. The trustee will want to know if there are assets inside that should be on Schedule A/B.
- Listing a car lease on Schedule D instead of Schedule G.
Related forms
Schedule G is part of the same set as Schedule A/B, D, E/F, and feeds Form 106Sum. See the complete forms index.