INSTRUCTIONS: DISCHARGE OF DEBTOR CHAPTER 7
Chapter 7 bankruptcy proceedings are for individuals or businesses that are unable to pay their debts in their entirety. In order to undertake this process, you must first complete a Chapter 7 means test. This form can be obtained from the United States Courts website. Your local bankruptcy court must then process and review this form.
If your request is approved, you will then be issued a Discharge of Debtor Chapter 7 form. Essentially, this form requires all creditors to cease collection actions and wait for the establishment of a payment plan. There is no way to obtain this form other than going to bankruptcy court.
Discharge of Debtor Chapter 7 Step 1: A judge will list the name of the bankruptcy court where you are indicated at the top of the form.
Discharge of Debtor Chapter 7 Step 2: Underneath this space, a judge will list your full name, including all trade, married and maiden names that you have used within the last eight years. Provide this information as required.
Discharge of Debtor Chapter 7 Step 3: A judge will list your address.
Discharge of Debtor Chapter 7 Step 4: A judge will list your Social Security Number and/or Employer Tax-Identification Number as applicable.
Discharge of Debtor Chapter 7 Step 5: A judge will list the number which has been assigned to your case.
Discharge of Debtor Chapter 7 Step 6: A judge will make sure that you understand the generic statement beneath this information. This is a brief statement that it appears that you are entitled to a stay in collection efforts.
Discharge of Debtor Chapter 7 Step 7: Once you are given a copy of this document, bankruptcy proceedings will continue. This document is not dissolution of all your debts. The document will list some of the debts which do not apply to Chapter 7. These include most taxes, student loan payments, fines and criminal penalties, and domestic support payments
Discharge of Debtor Chapter 7 Step 8: This agreement can be revoked or nullified by a judge if you are found to have concealed income or otherwise committed fraud.
Discharge of Debtor Chapter 7 Step 9: Due to the complexity of bankruptcy proceedings, this form also contains a notice advising applicants to obtain the assistance of a bankruptcy attorney if they have not already done so.
INSTRUCTIONS: NOTICE TO CREDITORS AND OTHER PARTIES OF INTEREST
Receivership is an alternative to bankruptcy that can only be undertaken by businesses, not private individuals. This process places a party, deemed a "receiver," in charge of liquidating the assets of a debtor and supervising the division of resulting proceeds among creditors. This will not eliminate debts.
A Notice to Creditors and Other Parties of Interest is a form that must be published in a newspaper in the county or district where receivership proceedings have been undertaken. The form itself is highly customizable, both from state to state and in the body of text placed within it. The example used here comes from the Montana Bankruptcy Court system but is similar to many others. This form will be filled out after a receiver has been placed in charge of handling this process.
Notice To Creditors And Other Parties Of Interest Step 1: The receiver or business filling out the form will fill out the location of the bankruptcy court which is supervising these proceedings.
Notice To Creditors And Other Parties Of Interest Step 2: The receiver or business will place the name or names of the debtors and businesses in question, along with other relevant information deemed necessary by the court in the applicable area, such as their address or the last four digits of their Social Security Number.
Notice To Creditors And Other Parties Of Interest Step 3: In the blank space provided, an explanation should be provided of the fact that a business is now in the receivership process. This section should provide a date by which creditors should submit their claim for compensation, as well as the mailing address of the receiver in charge of this process.
Notice To Creditors And Other Parties Of Interest Step 4: Depending on where you are completing this process, it may be necessary to obtain the signature of the bankruptcy court clerk overseeing this process.
Notice To Creditors And Other Parties Of Interest Step 5: A copy of this notice should be placed in the largest newspaper in the county where this process is being completed for several weeks. Whether this must be done two or three times in a row will depend on where you are. You may also be required to mail copies to all known creditors.