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 Delaware, as in all states, a bankruptcy petition is the formal document filed by an individual or business to initiate bankruptcy proceedings. The U.S. Bankruptcy Code, which is federal law, governs the process and requires the debtor to provide comprehensive financial information through various forms and schedules. These documents must include a list of all assets, both real and personal property, detailed monthly income and expenses, and all debts that the debtor seeks to discharge. The filing of the bankruptcy petition officially starts the bankruptcy case and triggers an automatic stay, which temporarily halts most collection actions against the debtor. The U.S. Bankruptcy Court for the District of Delaware is the federal court where such petitions are filed and proceedings are held. It's important for debtors to accurately complete all required forms and schedules, as errors or omissions can affect the outcome of the bankruptcy case. Debtors in Delaware may benefit from consulting with an attorney to ensure compliance with all legal requirements and to navigate the complexities of bankruptcy law.