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This document is a Voluntary Petition for Bankruptcy filed by Puente Holdings, LLC. It includes information about the debtor, previous bankruptcy cases, creditors, and attorney representation. The
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How to fill out voluntary petition
How to fill out Voluntary Petition
01
Obtain the Voluntary Petition form from the appropriate court or their website.
02
Fill out personal information such as your name, address, and social security number.
03
Indicate the type of bankruptcy you are filing for (Chapter 7, Chapter 11, etc.).
04
List all creditors by providing their names and addresses.
05
Detail your assets, including real estate, vehicles, and personal property.
06
Include your income information, detailing your sources of income and monthly income amounts.
07
Disclose any recent financial transactions, including any transfers of property.
08
Review the form for accuracy before signing and dating it.
09
File the completed form with the bankruptcy court, either in person or online.
Who needs Voluntary Petition?
01
Individuals or businesses facing financial difficulties.
02
People overwhelmed by debt and seeking relief.
03
Those wanting to reorganize their finances under court supervision.
04
Individuals looking to eliminate unsecured 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 entity to initiate bankruptcy proceedings, indicating their desire to seek relief under the bankruptcy laws.
Who is required to file Voluntary Petition?
Individuals or entities that are unable to pay their debts as they come due may choose to file a Voluntary Petition. This includes individuals, businesses, and other organizations seeking bankruptcy protection.
How to fill out Voluntary Petition?
To fill out a Voluntary Petition, the filer must provide necessary information including personal and financial details, type of bankruptcy being filed, and any supporting documentation as required by the court.
What is the purpose of Voluntary Petition?
The purpose of a Voluntary Petition is to formally request bankruptcy relief from creditors, allowing the filer to reorganize or eliminate debts and achieve a fresh financial start under the protection of the bankruptcy court.
What information must be reported on Voluntary Petition?
The Voluntary Petition must report the debtor's name, address, Social Security number or taxpayer ID, a list of creditors, the type of bankruptcy being filed, and details about assets and liabilities.
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