Free Articles, Free Web Content, Reprint Articles
Sunday, May 19, 2019
 
Free Articles, Free Web Content, Reprint ArticlesRegisterAll CategoriesTop AuthorsSubmit Article (Article Submission)ContactSubscribe Free Articles, Free Web Content, Reprint Articles
 

Filing Bankruptcy in Federal Courts

One cannot file for bankruptcy through US state courts, since exclusive jurisdiction is vested with Federal courts. The court charges a certain fee at the time of filing, depending on which category o...

One cannot file for bankruptcy through US state courts, since exclusive jurisdiction is vested with Federal courts. The court charges a certain fee at the time of filing, depending on which category of bankruptcy is being filed for. Specifically, a court fee for filing for Chapter 7 bankruptcy is $274, $1,039 for Chapter 11, $239 for Chapter 12 and $139 for Chapter 13. The charges vary for single individuals and married couples and can be paid in installments over a period of 120 days.

The Federal Rules of Bankruptcy Procedure has a formal procedure for filing, which is further specific to the bankruptcy laws of each judicial district. The US has 90 formal districts in which bankruptcy can be filed for, and the overall power over these is vested with the United States bankruptcy judge. Someone filing for Chapter 7 bankruptcy will usually have no direct dealings with a judge, while someone filing for Chapter 13 bankruptcy will appear before a judge at the official plan confirmation.

The applicant will, however, attend the 341 meeting (so called because it is required by section 341 of the Bankruptcy Code). In this meeting, the person applying for bankruptcy meets with all creditors involved and answers questions pertaining to assets, property, etc.

The form that needs to be filled out for filing bankruptcy encompasses something like 20 pages. It is this extensive because the applicant needs to provide the court with complete information regarding income and expenses, assets and liabilities and all financial transactions in the immediate past. The form is available with most legal stationers and costs around $20.

The bankruptcy petition must be filed in the applicable district\'s local bankruptcy courtFeature Articles, along with documentation pertaining to previous applications for bankruptcy.

Article Tags: Filing Bankruptcy, Federal Courts

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


Types Of Bankruptcy provides detailed information on Bankruptcy, Types Of Bankruptcy, Filing Bankruptcy, Bankruptcy Laws and more. Types Of Bankruptcy is affiliated with Chapter 13 Trustee.



Health
Business
Finance
Travel
Technology
Home Repair
Computers
Marketing
Autos
Family
Entertainment
Law
Education
Communication
Other
Sports
ECommerce
Home Business
Self Help
Internet
Partners


Page loaded in 0.022 seconds