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The one declaring bankruptcy, or in debt, is the debtor.
Any thing they file or claim in the proceeding can be called a petition.
Normally it is used to mean something they are asking the court to do.
"The debtors petitions the court to discharge their obligation to pay the debts listed...."
What else can I help you with?
Is there a law requiring you to open an estate if debts are owed?
Pretty much, the debtors can require it and can even petition the court to become the executor.
When to notify debtors you are filing bankruptcy?
The debtor's petition must be completed and lodged with the Official Receiver within 28 days of the form being signed by you.
What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
What happened to debtors in England?
Debtors in England were sent to debtors prison.
What is bankruptcy notice and bankruptcy petition?
The bankruptcy petition is the document filed with the court that includes all your debt, assets, creditors and debtors, as well as personal information. Preparing this takes time and expertise, so consult a local attorney. The lawyers at Allied Bankruptcy are here to assist you in this, call 1 (800) 988-0422 The Bankruptcy Notice is what is sent out to everyone listed in the petition.
What often happened to debtors in England?
Debtors in England were sent to debtors prison.
What does the plan of payment in a Chapter 13 petition include?
The plan of payment must be filed within fifteen days after the filing of the Chapter 13 petition. The plan must recite the debtors' finances, estimated income, and expenses with a payout over a three-year period (5 years if approved by the court).
What are the advantages of debtors?
what are the advantages of debtors?
What are the differences between trade debtors and sundry debtors?
sundry means "various". Sundry debtors means various debtors which not only include credit sales, but also include all other debtors(related to financial and other debt). So Trade debtors was part of sundry debtors. ok
What are the classification of debtors?
what are the classifications of debtors? what is the meaning of debtor exceeding 6 months & debtors for the year? how to calculate this?
What is the difference between debtors and sundry debtors?
why debtors and creditors are called as sundry? Debtors = In general business terminology means Customers to whom the goods are sold on credit. Sundry = Various Therefore Sundry Debtors means Debtors for various reasons and not merely for Credit Sales.
Why do you age your debtors?
Debtors are aged to find out that who has not paid for longer time and which debtors need more focus efforts to realize money and which debtors are still in credit policy limit.
