Bankruptcy Application Form

What is bankruptcy?

The process by which an entity or a person files for the declaration of the state of bankruptcy is initiated by the submission of the bankruptcy application form.

The legal state of an individual or an organization whereby the applicant is unable to furnish his financial needs and requirements especially the repayment of debts and loans is known as bankruptcy.

In most of the economies of the world, the bankruptcy process is started by the debtor and is enforced by the force of law and court. Bankruptcy should not be misunderstood with insolvency. A party may be insolvent but not bankrupt but a bankrupt party will be insolvent as well.

What is bankruptcy application form?

Hence any organization that has come to the conclusion that its financial position is very weak and it would not be able to meet its repayment obligations of loans and creditors can file for the declaration of bankruptcy and protect itself from any adverse action by the creditors.

This process can be initiated by the debtor using the Bankruptcy application form. When the bankruptcy is filed by the creditor it is called involuntary bankruptcy while the one filed by the debtor is a voluntary bankruptcy.

The form will contain all details about the organization and its assets and liabilities. The bankruptcy application form will be supported by all validity financial and non-financial documents that will be proof of the authenticity and validity of the information provided in the form. After the filing of this form, there will be a series of procedures processes that will ultimately lead to the declaration of bankruptcy.

Sample Preview

bankruptcy application form


Bankruptcy Application Form
Microsoft Word document file | File size 98 KB | Download
No. of pages=3

The file can be download in OpenOffice format (.odt)

OpenOffice Format
File size 21 Kb | Download

bankruptcy application fom


Statement of Affairs (Debtor’s Petition)
Microsoft Word document file | File size 282 KB | Download
No. of pages = 29

The file can be download in OpenOffice format (.odt)

OpenOffice Format
File size 48 Kb | Download


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