Insert Date into the Bankruptcy Agreement and eSign it in minutes

Aug 6th, 2022
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How to Insert Date into the Bankruptcy Agreement

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[Music] hello again everyone Im attorney Robert fleisss thanks for watching this video in this video Im going to show you one of the forms that are required in order to file a chapter 7 bankruptcy case and how to generally complete this form there are approximately 18 forms that must be accurately completed before you file your case with a bankruptcy court the form Im gonna discuss today is the first one form 101 this is the form where you insert information about yourself its pretty simple the other forms start getting a little bit more complicated lets take a look at the form this is the first form of a bankruptcy petition its called formed 101 theyre taking basic information from you thats gonna identify certain things now this is a fillable form and you can download it online at the united states bankruptcy website theyre all in PDF format this particular form is seven parts on eight pages and its not that hard to complete this is set up for either filing as a individual

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Generally, and subject to various defenses, the power to avoid transfers is effective against transfers made by the debtor within 90 days before filing the petition. But transfers to insiders (i.e., relatives, general partners, and directors or officers of the debtor) made up to a year before filing may be avoided.
The U.S. Bankruptcy Code contains a statute, Section 547 (or preferential-payment rule). It states when a debtor pays a creditor within 90 days of filing, the court can force the creditor to pay that money back so it can be dispersed among other creditors.
The bankruptcy rules allow you to file an amendment to your bankruptcy forms any time before you receive your final discharge. If for some reason you need to file an amendment after your discharge, then you will have to ask permission from the court.
Chapter 11 Plan Effective Date means the date on which all conditions to consummation of the Chapter 11 Plan have been satisfied (or waived) and the Chapter 11 Plan becomes effective.
Preference in law refers to a bankruptcy tool called recapture where a trustee can recover payments made by the debtor to creditors before the bankruptcy proceeding.
This statute provides that when a debtor makes a payment to a creditor and the debtor files bankruptcy within 90 days of that payment, the Bankruptcy Court can force the creditor to pay that money back to the debtor for distribution to all of the debtors creditors.
A creditor who provides new value in exchange for a payment or other transfer also can avoid preference liability. Generally, new value is an extension of further credit (e.g., money, goods, or services) to a troubled debtor.
The date on which the bankruptcy petition is filed is commonly called the petition date. This date has important implications on what is in the bankruptcy estate and the details of creditors claims, among other things. Many look-back periods concerning pre-bankruptcy activity are keyed to the petition date.

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