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This document is a Voluntary Petition for Bankruptcy filed by Matthew Joseph Pitera in the United States Bankruptcy Court for the District of New Jersey. It includes details about the debtor, their
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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 local court's website.
02
Fill in your personal information, including your name, address, and contact details.
03
Specify the type of bankruptcy you are filing for (e.g., Chapter 7, Chapter 13).
04
List all your debts, including amounts owed and creditors' names.
05
Provide a detailed overview of your assets, including property and financial accounts.
06
Complete the 'Exemptions' section if applicable, indicating any assets you wish to protect.
07
Sign and date the form, certifying that the information provided is accurate.
08
Prepare to submit the form to the court along with any required fees or additional documentation.
Who needs Voluntary Petition?
01
Individuals or couples who are unable to pay their debts and seek legal protection.
02
Business owners facing financial difficulties who wish to restructure their debts.
03
Anyone looking to discharge certain debts and start fresh financially.
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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 document that an individual or business files in bankruptcy court to initiate the bankruptcy process. It signifies the debtor's intention to seek relief from debts.
Who is required to file Voluntary Petition?
Any individual or legal entity (like a corporation or partnership) that is unable to pay their debts can file a Voluntary Petition. This includes those seeking Chapter 7, Chapter 11, or Chapter 13 bankruptcy.
How to fill out Voluntary Petition?
To fill out a Voluntary Petition, the debtor must provide personal and financial information including their name, address, income, debts, and a list of assets. The form must be completed accurately and filed with the bankruptcy court in the appropriate jurisdiction.
What is the purpose of Voluntary Petition?
The purpose of a Voluntary Petition is to officially declare one's bankruptcy status and to seek protection from creditors while the debtor restructures their debts or liquidates assets under court supervision.
What information must be reported on Voluntary Petition?
The Voluntary Petition must include information such as the debtor's name, address, social security number, a list of creditors, the nature and amount of debts, and a detailed schedule of assets and liabilities.
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