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P. 1007 m. Indicate if claim is contingent unliquidated disputed or subject to setoff Name of creditor and complete mailing address including zip code Name telephone number and complete employee agent or department of creditor familiar with claim who may be contacted Nature of claim trade debt bank loan government contract etc. 189 Avec Moi LLC 189 Avenue C New York NY 10009 Daniel Ben Susan Whitman Avenue Brooklyn NY 11234 Rolen Sabat 347 Fifth ...
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How to fill out voluntary petition
How to fill out Voluntary Petition
01
Start by obtaining the correct Voluntary Petition form. This is usually available from the court's website or office.
02
Fill in your personal information at the top, including your name, address, and contact details.
03
Specify the chapter of bankruptcy you are filing under (e.g., Chapter 7, Chapter 13).
04
List any co-debtors or additional parties involved in the situation.
05
Provide information about your assets, liabilities, income, and expenses as required in the form.
06
Ensure you include any necessary schedules or additional documents that support your Petition.
07
Review the petition carefully for accuracy and completeness.
08
Sign and date the petition at the designated areas.
09
File the completed petition with the court and pay any required filing fees.
Who needs Voluntary Petition?
01
Individuals or businesses who are unable to pay their debts.
02
People seeking relief from creditors through legal means.
03
Those facing foreclosure or repossession of assets.
04
Individuals needing to reorganize their financial affairs to make payments manageable.
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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.
Who is required to file Voluntary Petition?
Any individual or entity (such as a business) that is unable to pay debts and seeks relief under the bankruptcy code can file a Voluntary Petition.
How to fill out Voluntary Petition?
To fill out a Voluntary Petition, one needs to complete the required forms detailing personal information, financial status, and the circumstances leading to bankruptcy.
What is the purpose of Voluntary Petition?
The purpose of a Voluntary Petition is to inform the bankruptcy court of the debtor's financial situation and to seek protection from creditors.
What information must be reported on Voluntary Petition?
The Voluntary Petition must include information such as the debtor's identity, attorney information, a list of creditors, total debts, assets, income, and expenses.
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