This form is a disclosure of compensation of a bankruptcy petition preparer. The bankruptcy petition preparer declares that the information submitted is true and correct to the best of his/her knowledge.
Pennsylvania Disclosure of Compensation of Non-Attorney Bankruptcy Petition Preparer - For 2005 Act
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How to fill out Disclosure Of Compensation Of Non-Attorney Bankruptcy Petition Preparer - For 2005 Act?
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FAQ
Background. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in ance with the provisions of the Bankruptcy Code.
Under federal law, the look?back period for fraudulent transfers is two years. However, in Pennsylvania, state law increases this period to four years. Part of filing for bankruptcy is the pre-planning process. There are steps you can legally take before filing to protect some of your assets.
The "current monthly income" received by the debtor is a defined term in the Bankruptcy Code and means the average monthly income received over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from nondebtors and including income from the debtor's ...
The average bankruptcy packet ranges from 40 to 50 pages in length.
In a bankruptcy case under Chapter 7, you file a petition asking the court to discharge your debts. The basic idea in a Chapter 7 bankruptcy is to wipe out (discharge) your debts in exchange for giving up your property, except for exempt property which the law allows you to keep.
If your annualized income is less than or equal to the Pennsylvania state median income ($57,919.00), which is used by the bankruptcy court, then you ?pass? on the first try and can file Chapter 7. If your income is higher than the Pennsylvania state median income ($57,919.00), don't give up just yet.
The court may deny a chapter 7 discharge for any of the reasons described in section 727(a) of the Bankruptcy Code, including failure to provide requested tax documents; failure to complete a course on personal financial management; transfer or concealment of property with intent to hinder, delay, or defraud creditors; ...