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Chapter 12 Bankruptcy Frequently Asked Questions (FAQ) by PrestigeLegalDoc

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The purpose of this guide is to walk the user step by step through the process and shed light on what can be a very confusing and complex process. While a lawyer is not necessary to file bankruptcy, it can be a challenge for the layperson. This guide will address many of the frequently asked questions that arise in a Chapter 12 filing.

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									Table of Contents
Introduction-How to use this guide..................................................................................... 2
Do I need a lawyer to file bankruptcy? ............................................................................... 2
How do I find a reputable law firm? ................................................................................... 3
Chapter 13 Bankruptcy Frequently Asked Questions:........................................................ 4
   What does Chapter 12 mean? ......................................................................................... 4
   Does a Chapter 12 mean bankruptcy liquidation? .......................................................... 4
   Who can use Chapter 12? ............................................................................................... 4
   What Types of entities can file Chapter 12? ................................................................... 5
   What is an “Automatic Stay” under Chapter 12? ........................................................... 5
   Eligibility ........................................................................................................................ 5
   Partnerships and Corporations ........................................................................................ 6
   What are the Fees and Deadlines? .................................................................................. 7
   Advantages vs. Disadvantages ........................................................................................ 9
   Pertinent Rules and Regulations Regarding Bankruptcy .............................................. 10




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Introduction-How to use this guide

Deciding to file for bankruptcy is a one of the most important financial decisions you can
make. The purpose of this guide is to walk the user step by step through the process and
shed light on what can be a very confusing and complex process. While a lawyer is not
necessary to file bankruptcy, it can be a challenge for the layperson. This guide was
created to inform the user, but is not meant to provide legal advice.


This guide will address many of the frequently asked questions that arise in a Chapter 12
filing, as well as discuss the rules, filing fees, and timelines required. Lastly, it will
outline a step by step course of action preparing your own Chapter 12 filing.




Do I need a lawyer to file bankruptcy?

You do not need a lawyer to file a bankruptcy. All of the information and forms required
are readily available.      It should be noted, however, that the process of filing and
navigating court rules can be daunting. If a filing deadline is missed, or a major error is
made on a filing, the court will not take into consi
								
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