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Court Bankruptcy Records

The process of securing court bankruptcy records can be problematic. Finding the desired records is as much a result of having accurate personal information as well as knowing what chapter of bankruptcy the case was filed under. To b sure, a full name and social security number are all that are needed to locate a filing, but once that file is opened, it would behoove any interested party to understand what the filing entails.

Both individuals and corporations can file for bankruptcy. Should an individual or corporation fail to meet their financial responsibilities, and then indeed he or she or it can file for a respective chapter of bankruptcy. Understanding the three principle chapters of bankruptcy can help develop a better understanding of the factors inherent in a particular bankruptcy.

The three primary chapter of bankruptcy are Chapter 7, 11, and 13. Chapter 7 involves a complete liquidation of all saleable, non-exempt property to meet the financial needs of the creditors. This is the least attractive option, especially for individuals, partnerships, and sole proprietorships as all goods are typically sold below market value.

The more popular chapters are 11 and 13. Chapter 11 bankruptcies involve drafting a radical restructuring plan that highlights how a company or partnership can reorganize their business plan to meet their financial obligations to their creditors. Unfortunately, individuals cannot opt for filing a Chapter 11 bankruptcy.

Chapter 13 bankruptcies are designed for individuals who still have viable incomes, but cannot meet their financial obligations to their creditors. It is designed to allow individuals to keep their regular income -- or a great deal of it -- while establishing a repayment plan that satisfies his or her creditors. This requires that an individual's unsecured debts fall below $336,900 and his or her secured debts are below $1,010,650.

Bankruptcy Court Forms and Filings

In most cases, bankruptcy court forms can be downloaded, typically in PDF format, from any number of bankruptcy-related websites. These forms are ubiquitous and are free to the general public. In most cases, however, you will need some legal advice to complete them. For many individuals, these forms are far too bewildering. To be sure, there is a tremendous emotional component that should not be taken lightly that is involved with their completion.

Should an individual manage to complete these forms, they must be filed, by an accredited legal professional, with the respective federal bankruptcy district court. The filing fees are contingent upon the type of chapter filing. For Chapter 7, the case-filing fee is a firm $245. For Chapter 11 the filing fee is a mandatory $1000, while for Chapter 13 it is $235. Please note the case-filing fee is in addition to your attorney's hourly rate, which can range between $100 to $300 an hour.