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Official Bankruptcy Form 1 Voluntary Petition

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  • What automatically happens when a bankruptcy petition is filed?

    Filing a petition under chapter 7 "automatically stays" (stops) most collection actions against the debtor or the debtor's property. 11 U.S.C. § 362.
    But filing the petition does not stay certain types of actions listed under 11 U.S.C. § 362(b), and the stay may be effective only for a short time in some situations.

  • How do I serve a bankruptcy petition?

    Serving the bankruptcy petition
    If prompt personal service cannot be effected because the debtor is keeping out of the way or for some other reason, you can apply to the court for an order for substituted service (which may be by posting or leaving the document at a given address or by advertisement).

  • What is an involuntary bankruptcy petition?

    Involuntary bankruptcy is a legal proceeding through which creditors request that a person or business go into bankruptcy.
    Creditors can request involuntary bankruptcy if they think that they will not be paid if bankruptcy proceedings don't take place.

  • The discharge received by an individual debtor in a Chapter 11 case discharges the debtor from all pre-confirmation debts except those that would not be dischargeable in a Chapter 7 case filed by the same debtor.

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Official Bankruptcy Form 1 Voluntary Petition