Define Voluntary Petition
A voluntary petition is the form used to file for Chapter 7, 11, 12 or 13 bankruptcy. It is the first step in a bankruptcy case. There is also a process involving an involuntary petition which may be filed by creditors in certain circumstances.
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Form 1
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According to United States Courts, the voluntary petition must be in the format of Form 1, an official form created through the Judicial Conference of the United States. The filing is made with the clerk of court of the federal bankruptcy court in the jurisdiction where you live.
What is Included
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When filing a voluntary petition, you must include names you have used in the past six years, including trade names, names used in doing business, aliases, former married names and maiden names, which allows creditors to identify you when they receive a notice about the bankruptcy filing. It must also include your social security or tax identification number, your address and request for relief under the chapter of the bankruptcy code that you are using.
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Other Filings
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In addition to a petition, there are other documents you must file when declaring bankruptcy. Those documents include a listing of your property and debt, a statement of your financial affairs, a statement of your income and a mailing list containing names and addresses of creditors. Some of the other documents can be also filed within 15 days after the voluntary petition is filed.
Amendments
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Under bankruptcy law, you have the right to amend your voluntary petition at any time before the bankruptcy case is closed. You must give notice of any amendments to the bankruptcy trustee and to any entity the amendment affects.
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References
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