Certificate Of Commencement Of Case {B2060}

B2060 (Form 2060) CERTIFICATE OF COMMENCEMENT OF CASE. This form certifies the commencement of a bankruptcy case under either Chapter 7 or Chapter 11 of the United States Bankruptcy Code. The form confirms that a debtor has filed a petition seeking relief under the Bankruptcy Code or that a petition has been filed against the debtor. Once a bankruptcy case has been commenced, an automatic stay goes into effect, which stops most collection activities by creditors. The debtor must then provide a complete list of assets, liabilities, income, and expenses to the court and attend a meeting of creditors. The court will then oversee the process of either liquidating assets or reorganizing debts, depending on the type of bankruptcy. The process of bankruptcy can have significant financial and legal consequences, and it is important to seek the advice of a qualified bankruptcy attorney before filing. It is also important to understand that bankruptcy does not necessarily discharge all debts, and certain debts such as student loans and taxes may not be dischargeable. www.FormsWorkflow.com