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This document is a voluntary petition filed by The SCO Group, Inc. in the United States Bankruptcy Court, District of Delaware, indicating its intention to seek bankruptcy protection under Chapter
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How to fill out voluntary petition
How to fill out Voluntary Petition
01
Download the Voluntary Petition form from the appropriate court's website or obtain a physical copy from the courthouse.
02
Fill in your personal information, including your name, address, and contact information.
03
Indicate the chapter of bankruptcy you are filing under (e.g., Chapter 7 or Chapter 13).
04
List all financial information, including income, expenses, debts, and assets, as required by the form.
05
Check the box that reflects whether you have received credit counseling within the last 180 days.
06
Sign and date the petition at the designated area, confirming all information is accurate.
07
Prepare any additional required documents, such as schedules and statements.
08
Submit the completed petition and associated documents to the court along with the filing fee.
Who needs Voluntary Petition?
01
Individuals or businesses seeking legal protection from creditors may need to file a Voluntary Petition.
02
Those who are unable to pay their debts as they come due typically require this form.
03
People looking to restructure their debts or eliminate certain debts through bankruptcy processes need to file a Voluntary Petition.
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People Also Ask about
What is the difference between a voluntary petition and an involuntary petition?
A petition may be a voluntary petition, which is filed by the debtor, or it may be an involuntary petition, which is filed by creditors that meet certain requirements.
Who can file an involuntary petition?
A petitioning creditor is qualified to file an involuntary petition if they hold a claim against the debtor that is not contingent as to liability or the subject of a bona fide dispute regarding the liability or its amount, ing to the Bankruptcy Code.
What is an involuntary petition?
A petitioning creditor is qualified to file an involuntary petition if they hold a claim against the debtor that is not contingent as to liability or the subject of a bona fide dispute regarding the liability or its amount, ing to the Bankruptcy Code.
What is a voluntary petition in Chapter 7?
A voluntary petition is a more common filing and allows the debtor to choose the type of bankruptcy and the applicable chapter. In contrast, an involuntary petition is filed when the debtor is unable to pay its debts, and its creditors seek to force the debtor into bankruptcy. Overview of Bankruptcy Chapters.
What is the difference between voluntary and involuntary petition?
Voluntary bankruptcy is a bankruptcy proceeding commenced by the debtor ; bankruptcy instituted by an adjudication upon a debtor's petition. Involuntary bankruptcy, on the other hand, is a bankruptcy case initiated by a debtor's creditors .
What is the difference between a voluntary petition and an involuntary petition?
Voluntary Petition vs. Involuntary Petition A voluntary petition is a bankruptcy filing initiated by the debtor, while an involuntary petition is filed by the debtor's creditors. A voluntary petition is a more common filing and allows the debtor to choose the type of bankruptcy and the applicable chapter.
Why would an unsecured creditor want to file an involuntary petition against a debtor?
This is typically initiated when creditors have determined that the debtor is unable to meet their financial obligations in repaying the debts to the creditors, and bankruptcy is the best option to recover those debts.
What is an involuntary proceeding?
When a creditor has made several attempts to collect a debt, but there has been no response from the debtor, they may have no choice but to sue them into bankruptcy.
What is a voluntary petition?
A Voluntary Petition is a document that initiates the filing of a bankruptcy proceeding, setting forth basic information regarding the debtor(s), including name(s), address(es), chapter under which the case is filed, and estimated amount of assets and liabilities.
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What is Voluntary Petition?
A Voluntary Petition is a legal document filed by an individual or business to initiate the bankruptcy process, indicating their intention to seek relief from debts.
Who is required to file Voluntary Petition?
Any individual or business entity that is unable to pay their debts and seeks bankruptcy relief can file a Voluntary Petition.
How to fill out Voluntary Petition?
To fill out a Voluntary Petition, one must complete the official form provided by the bankruptcy court, disclosing personal or business information, financial details, and the type of bankruptcy being filed (Chapter 7, Chapter 11, etc.). It must be signed and submitted to the court.
What is the purpose of Voluntary Petition?
The purpose of a Voluntary Petition is to formally request bankruptcy protection, providing debtors with a legal framework to reorganize or eliminate their debts under the supervision of the court.
What information must be reported on Voluntary Petition?
The Voluntary Petition requires reporting information such as the debtor's name, address, debts, income, assets, and the statement of financial affairs, as well as details regarding prior bankruptcies and creditors.
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