This form is an involuntary petition. The form lists: information about the debtor, venue, and the petitioning creditors. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.
North Carolina Involuntary Petition and Memorandum - Form 5 - Post 2005
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US-BKR-F5
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How to fill out Involuntary Petition And Memorandum - Form 5 - Post 2005?
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FAQ
A creditor with a secured debt usually will not need to file an involuntary bankruptcy petition because they can simply take the asset.) Creditors must meet certain criteria before they may commence an involuntary bankruptcy action.
North Carolina law allows for an individual to be evaluated and hospitalized against his/her own wishes. In order for this to happen there must be clear evidence the person is dangerous to self or others. Initiating an involuntary commitment is usually a choice of ?last resort?.
A Voluntary Petition is a document that initiates the filing of a bankruptcy proceeding, setting forth basic information regarding the debtor(s), including name(s), address(es), chapter under which the case is filed, and estimated amount of assets and liabilities.
An order for relief will be entered if the debtor does not contest the involuntary petition or, if the debtor contests the involuntary petition, an order for relief will be entered if (1) the court determines that the debtor is not paying its undisputed debts as they come due, or (2) a custodian (other than a trustee, ...
Automatic Stay -- Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against certain creditors who want to start or continue taking action against a debtor or the debtor's property.
A bankruptcy petition filed by creditors, usually to force a debtor to enter a liquidation proceeding under Chapter 7. The debtor can contest the petition and can choose to convert it into a case under Chapter 11.
An affidavit must be filed with the Clerk of Superior Court or Magistrate of District Court. Current North Carolina Law requires this to happen before someone can get help if they are unwilling or unable to seek or find voluntary treatment for their mental illness and/or substance abuse problem.