Expression, Notice Required by 11 U.S.C. § 342(b) for Individuals Filing for Bankruptcy

• Legal Form Number: B 2010
• Court: United States Federal Court
• Section: United States Federal Court

NoticeRequired by 11 U.S.C. § 342(b) for Individuals Filing for Bankruptcy (Form 2010) page 1

NoticeRequired by 11 U.S.C. § 342(b) for

Individuals Filing for Bankruptcy (Form 2010)

This notice is for you if:

You are an individual filing for bankruptcy,

and

Your debts are primarily consumer debts.

Consumer debts are defined in 11 U.S.C.

§ 101(8) as “incurred by an individual

primarily for a personal, family, or

household purpose.”

Thetypes of bankruptcy that are

available to individuals

Individuals who meet the qualifications may file

under one of four different chapters of the

Bankruptcy Code:

Chapter 7 — Liquidation

Chapter 11 — Reorganization

Chapter 12 — Voluntary repayment plan

for family farmers or

fishermen

Chapter 13 — Voluntary repayment plan

for individualswith regular

income

You should have an attorney review your

decision to file for bankruptcy and the choice of

chapter.

Chapter 7:Liquidation

$245filing fee

$78 administrative fee

+ $15trustee surcharge

$338 total fee

Chapter 7 is for individuals who have financial

difficulty preventing them from paying their

debts and who are willing to allow their non-

exempt property to be used to pay their

creditors. The primary purpose of filing under

chapter 7 is to have your debts discharged. The

bankruptcy discharge relieves you after

bankruptcy from having to pay many of your

pre-bankruptcy debts. Exceptions exist for

particular debts, and liens on property may still

be enforcedafter discharge. For example, a

creditor may have the right to foreclose a home

mortgage or repossess an automobile.

However, if the court finds that you have

committed certain kinds of improper conduct

described in the Bankruptcy Code, the court

may deny your discharge.

You should know that even if you file

chapter 7 and you receive a discharge, some

debts are not discharged under the law.

Therefore, you may still be responsible to pay:

most taxes;

most student loans;

domestic support and property settlement

obligations;