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This form is used to submit a voluntary petition for bankruptcy in the United States Bankruptcy Court. It provides information about the debtor, including their personal details, financial status,
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B1 (Official Form 1) is the official bankruptcy petition form for individuals and businesses in the United States seeking relief under the Bankruptcy Code. It serves as the primary document to initiate a bankruptcy case.
Any individual or entity seeking to declare bankruptcy under Chapter 7, Chapter 11, or Chapter 13 of the U.S. Bankruptcy Code is required to file B1 (Official Form 1).
To fill out B1 (Official Form 1), debtors must provide personal and financial information, including names, addresses, income sources, debts, and assets. The form must be completed thoroughly to accurately reflect the debtor's financial situation.
The purpose of B1 (Official Form 1) is to formally initiate bankruptcy proceedings, allowing the debtor to seek relief from debts and start over financially under the protection of the bankruptcy court.
The information required includes the debtor's name and address, the type of bankruptcy being filed, details of creditors, a list of assets and liabilities, income and expenses, and any prior bankruptcy filings.
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