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This document is a Voluntary Petition filed under the United States Bankruptcy Code. It provides details regarding the debtor, including their name, address, and the chapter of the bankruptcy code under which the petition is filed. It includes sections on the nature of debts, estimated assets and liabilities, and compliance with credit counseling requirements. The petition is a critical part of the bankruptcy process, allowing for individual debtors to seek relief from debts.
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Form B1 is an official document used to initiate bankruptcy proceedings, specifically for filing a petition for Chapter 7 or Chapter 11 bankruptcy in the United States.
Individuals or businesses seeking to declare bankruptcy under Chapter 7 or Chapter 11 must file Form B1.
To fill out Form B1, you need to provide basic personal information, details about assets, debts, income, and expenses, along with any necessary signatures. It's advisable to consult a legal professional for guidance.
The purpose of Form B1 is to formally petition the bankruptcy court to relieve the debtor from their debts and to initiate the bankruptcy process.
Information required includes the debtor's name, address, social security number, details of assets and liabilities, income, expenses, and any previous bankruptcy filings.
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