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This form is used to initiate a voluntary bankruptcy petition under various chapters of the Bankruptcy Code, including Chapters 7, 11, and 13. It requires information about the debtor, their debts,
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Chapter 7 – See Bankruptcy Code Section 707 – Because a trustee is appointed, the trustee may file an objection to a request for voluntary dismissal, and a hearing is required. Chapter 11 – See Bankruptcy Code Section 1112 – A debtor's request to dismiss requires a motion and an opportunity for a hearing.
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.
The voluntary petition will include standard information concerning the debtor's name(s), social security number or tax identification number, residence, location of principal assets (if a business), the debtor's plan or intention to file a plan, and a request for relief under the appropriate chapter of the Bankruptcy
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.

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B1 (Official Form 1)(12/11) is a bankruptcy petition form used in the United States to initiate a bankruptcy case under the Bankruptcy Code.
Individuals or businesses seeking to declare bankruptcy and obtain relief from their debts are required to file B1 (Official Form 1)(12/11).
To fill out B1 (Official Form 1)(12/11), you need to provide information about your identity, debts, assets, current income, and expenses, as well as any prior bankruptcy cases.
The purpose of B1 (Official Form 1)(12/11) is to formally request bankruptcy protection and to disclose financial information to the court.
B1 (Official Form 1)(12/11) requires the reporting of personal information, types and amounts of debts, assets, income sources, and living expenses.
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