A bankruptcy petition is a set of forms (also known as schedules) on which a debtor filing for bankruptcy discloses detailed financial information to the bankruptcy court. These forms will require you to list all of your assets (real property and personal property), your monthly income and expenses, and the debts you want to eliminate or discharge in bankruptcy. Your bankruptcy case begins when you file the bankruptcy petition with the clerk of the bankruptcy court.

In Arizona, as in all states, a bankruptcy petition is the formal document filed by a debtor that initiates a bankruptcy case. This petition is a collection of forms that require the debtor to provide comprehensive financial information to the bankruptcy court. The debtor must list all assets, including both real and personal property, as well as disclose monthly income and expenses. Additionally, the debtor must detail all debts that they are seeking to eliminate or discharge through the bankruptcy process. The filing of the bankruptcy petition with the clerk of the bankruptcy court marks the official start of the bankruptcy case. Federal law, specifically the U.S. Bankruptcy Code, governs the process of bankruptcy, and while the forms and procedures are consistent nationwide, local court rules and state laws can affect certain aspects of the bankruptcy process, such as exemptions for personal property. Debtors in Arizona should be aware of both federal and state regulations when preparing their bankruptcy petition.