What is a bankruptcy petition?

Answer People or businesses can accumulate so much debt that it becomes impossible to repay. When this happens, you have the legal option of filing a bankruptcy petition. However, consider bankruptcy only... Read More »

Top Q&A For: What is a bankruptcy petition

How do i file a bankruptcy petition?

EligibilityComplete a financial means test to determine bankruptcy eligibility. Study the different Chapters of bankruptcy. Decide which Chapter--7, 11 or 13--best suits your financial situation. C... Read More »

How do I amend a bankruptcy petition?

Go to Bankruptcy CourtCall or visit the bankruptcy court in which you filed your case during normal weekday business hours. Depending upon what you need to amend in your bankruptcy, the court staff... Read More »

Can a Bankruptcy Petition Be Dropped?

Once a debtor files a bankruptcy petition, he subjects himself to the jurisdiction of the bankruptcy court. As a result, the debtor cannot dismiss his case, colloquially referred to as "dropping" h... Read More »

Voluntary Petition for Chapter 11 Bankruptcy?

Chapter 11 allows self-employed people and business owners to partially repay personal and company debts through local divisions of the United States Bankruptcy Court. Most Chapter 11 filers seek h... Read More »