A Notice of Chapter 12 Bankruptcy Case (For Individuals or Joint Debtors) is a document issued by the court to inform creditors of the filing of a Chapter 12 bankruptcy petition by an individual or joint debtors. This notice provides information about the bankruptcy case, including the name of the debtor(s), the bankruptcy court, the case number, the date of the filing, the deadline for filing a claim against the debtor(s), and contact information for the debtor’s attorney. The notice also provides instructions for the creditor on how to file a claim and how to participate in the bankruptcy case. There are two types of Notice of Chapter 12 Bankruptcy Case (For Individuals or Joint Debtors): the individual debtor’s notice, which is issued to creditors when an individual files for bankruptcy, and the joint debtor’s notice, which is issued to creditors when two or more individuals file jointly for bankruptcy.
Notice of Chapter 12 Bankruptcy Case (For Individuals or Joint Debtors)
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How to fill out Notice Of Chapter 12 Bankruptcy Case (For Individuals Or Joint Debtors)?
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More In File Chapter 12 ? This chapter of the bankruptcy code is used for the adjustment of debts of a family farmer or family fisherman with regular annual income. Chapter 12 allows the family farmer/fisherman to reorganize debts through a payment plan.
An individual (or business) against whom a lawsuit is filed. A release of a debtor from personal liability for certain dischargeable debts set forth in the Bankruptcy Code.
An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged debt. But not all of an individual's debts are discharged in chapter 7.
Chapter 12 is designed for "family farmers" or "family fishermen" with "regular annual income." It enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts.
"Debtor" is the subject of the case. § 101(13). d. "Creditor" is an entity that has a claim against the debtor that arose at the time of or before the order for relief concerning the debtor.
You are a Debtor if... You are a person or institution who owes money to a creditor. You cannot repay the money owed by the time it is due and are filing for bankruptcy.
The entity in bankruptcy is called the ?debtor.? Parties that are owed money by the debtor are called ?creditors.? Creditors may be either secured creditors, meaning that they hold collateral for the debts owed them, or unsecured creditors, who do not have any collateral or security for their claims.
A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.