Bankruptcy Application Form

Bankruptcy a legal status of a person or organization that cannot repay the debts it owes to creditors. A bankruptcy application form having the official proof of claim is used by creditors to file claims with the bankruptcy courts. If form is filing by debtor its called voluntary bankruptcy, involuntary bankruptcy is declared by the court upon petition bay creditor. Following type of bankruptcy form: 1st Debtor’s Petition form: This is your request to the court to be made bankrupt.2nd: Statement of Affairs in which you’ll give details about your assets and debts as well as your income and expenditure. If a creditor has petitioned for your bankruptcy then you will need to complete a bankruptcy application form or bankruptcy preliminary information questionnaire, the purpose of which is to give the court more information about your financial affairs.

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