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This document is a Voluntary Petition filed under Chapter 11 of the Bankruptcy Code by Roger Guerra in the United States Bankruptcy Court for the Southern District of Florida. It includes details

How to fill out b1 official form 1

How to fill out B1 (Official Form 1) Voluntary Petition

1. Obtain the B1 (Official Form 1) Voluntary Petition from the appropriate court website or office.
2. Fill in the debtor's name in the section provided.
3. Provide the debtor's Social Security number or ITIN.
4. Specify the chapter under which the petition is filed, usually Chapter 7 or Chapter 13.
5. Indicate whether the debtor is an individual, corporation, or partnership.
6. Complete the sections regarding the debtor's address and principal place of business if applicable.
7. List any prior bankruptcy cases filed by the debtor within the last 8 years.
8. Sign and date the petition at the designated area.
9. Review the completed form for accuracy before submission.
10. Submit the B1 form along with any required fees to the bankruptcy court.

Who needs B1 (Official Form 1) Voluntary Petition?

1. Individuals or entities facing financial difficulties and seeking bankruptcy relief.
2. Debtors who wish to initiate bankruptcy proceedings under U.S. federal law.
3. Those meeting eligibility requirements for the specific chapter of bankruptcy they are filing under.

People Also Ask about

What is the difference between voluntary and 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.

What is an involuntary 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.

What is a voluntary petition?

Voluntary migration occurs when someone chooses to leave home. Most voluntary migration, whether internal or external, is undertaken in search of better economic opportunities or housing. Forced migrations usually involve people who have been expelled by governments or who have been transported as slaves or prisoners.

What does "petition for chapter 7" mean?

Businesses choosing to terminate their enterprises may also file Chapter 7. Chapter 7 provides relief to debtors regardless of the amount of debts owed or whether a debtor is solvent or insolvent. A Chapter 7 Trustee is appointed to convert the debtor's assets into cash for distribution among creditors.

How long does it take to file a Chapter 13 petition?

Recap: How Long Does it Take to File Chapter 13 Bankruptcy From Start to Finish? A few weeks to a few months to gather and submit documents, and draft your petition, schedules, and plan. 30-40 after filing to attend your 341 meeting. Typically 3-6 months after filing to have your plan confirmed.

What is the difference between voluntary and involuntary process?

Voluntary actions are consciously controlled by the brain, while involuntary actions are automatic responses not consciously controlled. Voluntary actions are those that we consciously decide to carry out.

What does "petition for chapter 13" mean?

A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.

For pdfFiller’s FAQs

What is B1 (Official Form 1) Voluntary Petition?

B1 (Official Form 1) Voluntary Petition is a legal document filed by an individual or entity seeking relief under the Bankruptcy Code. It initiates the bankruptcy process and outlines the debtor's financial status.

Who is required to file B1 (Official Form 1) Voluntary Petition?

Individuals or businesses that are unable to meet their financial obligations and seek bankruptcy protection are required to file B1 (Official Form 1) Voluntary Petition. This includes those wishing to file under Chapter 7, 11, or 13 of the Bankruptcy Code.

How to fill out B1 (Official Form 1) Voluntary Petition?

To fill out B1 (Official Form 1) Voluntary Petition, the filer must provide personal information such as name, address, and Social Security number, as well as details about their debts, assets, income, and expenses. It is important to read the instructions carefully and complete all required sections.

What is the purpose of B1 (Official Form 1) Voluntary Petition?

The purpose of B1 (Official Form 1) Voluntary Petition is to officially commence the bankruptcy process, allowing the debtor to receive legal protection from creditors and initiate the resolution of financial obligations.

What information must be reported on B1 (Official Form 1) Voluntary Petition?

The information that must be reported on B1 (Official Form 1) Voluntary Petition includes the debtor's identification details, a summary of debts and assets, income and expenses, and any previous bankruptcy filings.