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 Maryland, as in all states, a bankruptcy petition is the formal document filed by a debtor that initiates a bankruptcy case. This petition includes various forms, often referred to as schedules, which provide the bankruptcy court with comprehensive financial information about the debtor. 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. It's important to note that federal law, specifically the U.S. Bankruptcy Code, governs the bankruptcy process, although local state laws can influence certain aspects of the bankruptcy, such as exemptions for personal property. Debtors in Maryland may choose to use either the federal exemption scheme or the Maryland state exemptions when filing for bankruptcy. It is advisable for individuals considering bankruptcy to consult with an attorney to understand the specific requirements and implications of filing a bankruptcy petition in Maryland.