Reference - 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 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 court, along with documentation pertaining to previous
applications for bankruptcy.
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