Bankruptcy means a process of being defaulter to pay his loan taken from creditors against personal and business use. There are number of reason for which the debtor needs to get a certificate from court relating to position in which he cannot pay the loan. Suck kind of forms are generally used by debtor to request for showing himself bankrupts. The court is the only one who has an authority to declare bankruptcy against debtors. The court does not fully discharge all outstanding debts. In a bankruptcy, a court ordered the creditor or bank to recover his debt by taking possession of his business and also can recover by selling remaining assets of a debtor.
The benefit of bankruptcy request is, you are in custody of a court, and now the court will fully provide you protection from creditors or banks. A bankruptcy request form includes the following content for example, name of debtor and creditor, amount of debts, reason for bankruptcy, debtor financial report, income statement and current assets details, etc. One of the most important benefits of declaring bankruptcy, it helps to remove creditor’s pressure which may affect your physical condition.
Category: Request Forms
Name: Court Bankruptcy Request Form
Document Type: MS Word
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