Official Form: Chapter 7 Individual Debtor's Statement of Intention: 12/01/ Official Form: Chapter 7 Means Test Calculation: 04/01/ A Official Form: Chapter 7 Statement of Current Monthly Income: 04/03/ A Official Form: Chapter 7 Statement of Exemption from Presumption of Abuse: 12/01/ This Chapter 7 Petition Package includes the basic information and forms required for an individual debtor to file a voluntary chapter 7 bankruptcy case in the Central District of California, as specified in the Court Manual, Section 2 Filing Requirements and Procedures Individual debtors should also refer to the. There are four common kinds of bankruptcy cases, named by the chapter of the federal Bankruptcy Code that describes them. Chapter 7 is the most common form of bankruptcy for individuals. It is a liquidation bankruptcy, which means that the court sells all .
Declaration of Inmate Filing. Disclosure of Compensation Bankruptcy Petition Preparer. Disclosure of Compensation of Attorney for Debtor. Exemplification Certificate.
Final Decree. General Power of Attorney. Have You Completed Credit Counseling? Instructions to Unrepresented Debtors Re: Reaffirmations. Involuntary Petition Against a Non-Individual. Involuntary Petition Against an Individual. Judgment by Default. Judgment by Default Disallowing Claim of Exemptions. List of Creditors Creditor Matrix Instructions. List of Exhibits Submitted by Attorney.
Lodged Order Template for Adv Cases. Lodged Order Template for Relief from Stay. Mediator's Certificate of Compliance. Mortgage Proof of Claim Attachment. Motion for Relief from Stay Unlawful Detainer. Motion to Reopen Case. Notice for Individuals Filing for Bankruptcy.
Notice of Appeal and Statement of Election. Notice of Appeal and Statement of Election Adversary. Notice of Change of Address. Notice of Conversion Ch 12 to Ch 7 by Debtor.
Notice of Conversion Ch 13 to Ch 7 by Debtor. Notice of Final Cure Payment. Notice of Lodgment. Notice of Mortgage Payment Change.
Notice of Motion for Description. Notice of Objections to Debtor's Claim of Exemptions. Notice of Pre-Trial Status Conference. Notice of Related Cases. Notice to Creditors Added by Amendment. Notice to Person with Communications Disabilities. Objection to Claim and Notice Thereof. Objection to Confirmation of Ch 13 Plan. Order Appointing Appraiser. Order Appointing Auctioneer. Order Dismissing Ch 13 Case after Hearing. Order for Compensation of Appraiser.
Schedule J: Your Expenses individuals. Chapter 13 Plan. Chapter 7 Means Test Calculation. Chapter 13 Calculation of Your Disposable Income. Exemplification Certificate. Application For Search of Bankruptcy Records. Claims Register.
Application for Payment of Unclaimed Funds. Required Lists, Schedules, Statements, and Fees. Notice Required by 11 U. Statement of Military Service. Disclosure of Compensation of Attorney For Debtor. Involuntary Petition Against a Non-Individual. Notice to Creditors and Other Parties in Interest. A Summary of Your Assets and Liabilities non-individuals. Certificate of Commencement of Case. Schedule H: Your Codebtors non-individuals. Statement of Your Financial Affairs non-individuals. Certificate of Retention of Debtor in Possesion.
Order Confirming Chapter 12 Plan. Order Confirming Chapter 13 Plan. Reaffirmation Documents. Reaffirmation Agreement. Motion For Approval of Reaffirmation Agreement. Order on Reaffirmation Agreement. Order on Reaffirmation Agreement Alt. Debtors should be aware that failure to pay these fees may result in dismissal of the case. In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information:.
Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse are required so that the court, the trustee and creditors can evaluate the household's financial position. Among the schedules that an individual debtor will file is a schedule of "exempt" property.
The Bankruptcy Code allows an individual debtor 4 to protect some property from the claims of creditors because it is exempt under federal bankruptcy law or under the laws of the debtor's home state.
Many states have taken advantage of a provision in the Bankruptcy Code that permits each state to adopt its own exemption law in place of the federal exemptions. In other jurisdictions, the individual debtor has the option of choosing between a federal package of exemptions or the exemptions available under state law.
Thus, whether certain property is exempt and may be kept by the debtor is often a question of state law. The debtor should consult an attorney to determine the exemptions available in the state where the debtor lives.
Filing a petition under chapter 7 "automatically stays" stops most collection actions against the debtor or the debtor's property. But filing the petition does not stay certain types of actions listed under 11 U. The stay arises by operation of law and requires no judicial action. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even telephone calls demanding payments. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor.
Between 21 and 40 days after the petition is filed, the case trustee described below will hold a meeting of creditors. If the U. During this meeting, the trustee puts the debtor under oath, and both the trustee and creditors may ask questions. The debtor must attend the meeting and answer questions regarding the debtor's financial affairs and property. If a husband and wife have filed a joint petition, they both must attend the creditors' meeting and answer questions.
Within 10 days of the creditors' meeting, the U. It is important for the debtor to cooperate with the trustee and to provide any financial records or documents that the trustee requests. The Bankruptcy Code requires the trustee to ask the debtor questions at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy such as the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt.
Some trustees provide written information on these topics at or before the meeting to ensure that the debtor is aware of this information. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the meeting of creditors. In order to accord the debtor complete relief, the Bankruptcy Code allows the debtor to convert a chapter 7 case to a case under chapter 11, 12, or 13 6 as long as the debtor is eligible to be a debtor under the new chapter.
However, a condition of the debtor's voluntary conversion is that the case has not previously been converted to chapter 7 from another chapter. Thus, the debtor will not be permitted to convert the case repeatedly from one chapter to another. When a chapter 7 petition is filed, the U.
If all the debtor's assets are exempt or subject to valid liens, the trustee will normally file a "no asset" report with the court, and there will be no distribution to unsecured creditors. Most chapter 7 cases involving individual debtors are no asset cases. But if the case appears to be an "asset" case at the outset, unsecured creditors 7 must file their claims with the court within 90 days after the first date set for the meeting of creditors.
A governmental unit, however, has days from the date the case is filed to file a claim. In the typical no asset chapter 7 case, there is no need for creditors to file proofs of claim because there will be no distribution.
If the trustee later recovers assets for distribution to unsecured creditors, the Bankruptcy Court will provide notice to creditors and will allow additional time to file proofs of claim. Although a secured creditor does not need to file a proof of claim in a chapter 7 case to preserve its security interest or lien, there may be other reasons to file a claim. A creditor in a chapter 7 case who has a lien on the debtor's property should consult an attorney for advice.
Commencement of a bankruptcy case creates an "estate. It consists of all legal or equitable interests of the debtor in property as of the commencement of the case, including property owned or held by another person if the debtor has an interest in the property. Generally speaking, the debtor's creditors are paid from nonexempt property of the estate. The primary role of a chapter 7 trustee in an asset case is to liquidate the debtor's nonexempt assets in a manner that maximizes the return to the debtor's unsecured creditors.
The trustee accomplishes this by selling the debtor's property if it is free and clear of liens as long as the property is not exempt or if it is worth more than any security interest or lien attached to the property and any exemption that the debtor holds in the property.
The trustee may also attempt to recover money or property under the trustee's "avoiding powers. In addition, if the debtor is a business, the bankruptcy court may authorize the trustee to operate the business for a limited period of time, if such operation will benefit creditors and enhance the liquidation of the estate.
Section of the Bankruptcy Code governs the distribution of the property of the estate.