The bankruptcy petition form, also called the voluntary petition, is one of the first of a long series of documents and paperwork that must be filled out in order to apply for Chapter 7 or Chapter 13 bankruptcy.
The bankruptcy petition form reveals the basic information required to start the bankruptcy process, including:
- debtor’s name, address and Social Security number;
- chapter of bankruptcy being filed;
- type of debts owed;
- any assets that may be sold to pay debts;
- number of creditors owed;
- estimate of the total debts;
- disclosure of any past bankruptcy cases;
- Exhibit D, confirming that pre-bankruptcy credit counseling has been completed; and
- completed signature page.
Individuals also must submit a filing fee along with their petitions; the cost is $306 for Chapter 7, $281 for Chapter 13 and $246 for Chapter 12. It is possible to apply for a fee waiver or to pay the fee off in installments.
There may be other additional documents needed to supplement the petition, depending on the debtor’s specific situation.
Some of these documents include:
- Exhibit A if the petitioner is filing Chapter 11 bankruptcy;
- Exhibit B if the petitioner has an attorney;
- Exhibit C if the petitioner owns property that could be deemed dangerous to the community; and
- tenant certification if the petitioner is a residential tenant and behind on rent.
In addition to the bankruptcy petition, in order to complete the filing, debtors also may be required to submit schedules A through J, a means test, a disposable income form and various statements and other documents.
Getting Help from a Plano Bankruptcy Lawyer
More than 1.2 million Americans filed for bankruptcy last year according to data from the United States Courts. A Plano bankruptcy lawyer can help individuals evaluate whether bankruptcy is the right move for them, can go over implications of bankruptcy on taxes and other issues, and can help throughout the filing process including completing the bankruptcy petition form.