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This document is a Voluntary Petition filed by Automated Designs, Inc. in the United States Bankruptcy Court for the Western District of North Carolina. It outlines the bankruptcy case details, including
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How to fill out voluntary petition
How to fill out Voluntary Petition
01
Begin by downloading the Voluntary Petition form from the appropriate court website.
02
Fill in the personal information section, including your name, address, and contact information.
03
Indicate whether you are filing as an individual or a business entity.
04
Provide information on any co-debtors or joint filers, if applicable.
05
Detail your financial information, including assets, liabilities, income, and expenses.
06
Select the appropriate chapter under which you are filing for bankruptcy.
07
Review the form for accuracy and completeness.
08
Sign and date the petition.
09
Prepare any additional required documents as instructed by the court.
10
File the petition with the court, either in person or electronically, and pay any required filing fees.
Who needs Voluntary Petition?
01
Individuals facing overwhelming debt who cannot repay their obligations.
02
Business owners looking to reorganize or discharge business debts.
03
Anyone seeking protection from creditors through bankruptcy.
04
People experiencing foreclosure, wage garnishments, or lawsuits due to unpaid debts.
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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.
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.
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What is Voluntary Petition?
A Voluntary Petition is a legal document filed by an individual or business to initiate a bankruptcy proceeding, 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 wishes to seek bankruptcy protection can file a Voluntary Petition.
How to fill out Voluntary Petition?
To fill out a Voluntary Petition, one must complete the required forms that include personal information, details about debts and assets, and the type of bankruptcy being filed (Chapter 7, 11, or 13).
What is the purpose of Voluntary Petition?
The purpose of a Voluntary Petition is to officially commence the bankruptcy process, allowing the filer to seek debt relief and obtain a discharge of certain debts.
What information must be reported on Voluntary Petition?
The Voluntary Petition must report information such as the debtor's name, address, Social Security number or tax ID, details about assets, liabilities, income, and a list of all creditors.
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