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How does one start a bankruptcy proceeding?

How does one start a bankruptcy proceeding?

  • December 31, 2019
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Contact us today at Winsor Law Group to discuss your options for both personal and business bankruptcy relief.

All bankruptcy proceedings commence with the filing of a Petition for Relief that provides basic information about the debtor, presents a brief summary of assets and liabilities, and identifies the chapter of the Bankruptcy Code under which the debtor seeks relief.  The information contained in a “bankruptcy petition” vary slightly among the different chapters.

The petition is just the starting point.  At the same time the petition is filed, the debtor must also file documents called “schedules,” a “statement of financial affairs,” a “statement of current monthly income,” and a credit counseling certificate.  These additional documents contain a comprehensive disclosure of the debtor’s financial condition.  Failure to properly disclose information can result in debts not being discharged or even criminal prosecution for bankruptcy fraud.  Contact Winsor Law Group for help preparing and filing your bankruptcy case.

Contact us today at Winsor Law Group to discuss your options for both personal and business bankruptcy relief.

Disclaimer: This article is for informational purposes only. If you have questions about filing bankruptcy, please fill out our short questionnaire and Winsor & Reed will set up a consultation to see if bankruptcy is the right option for you. We are a debt relief agency. We help people file for relief under the Bankruptcy Code.

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