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 Montana, as in all states, a bankruptcy petition is the formal document that initiates a bankruptcy case. It includes various forms and schedules where the debtor must disclose comprehensive financial details to the bankruptcy court. These disclosures encompass all assets, including both real and personal property, monthly income and expenses, and all debts that the debtor seeks to discharge. The debtor must also provide a list of creditors, the amount and nature of their claims, and the frequency and amount of the debtor's income. Filing the petition with the clerk of the bankruptcy court officially starts the bankruptcy process. Federal law, specifically the U.S. Bankruptcy Code, governs the bankruptcy process, while local Montana rules and procedures may also apply. It's important for debtors to accurately complete all required forms and schedules to avoid complications in their bankruptcy case. Debtors often seek assistance from an attorney to ensure that the petition and accompanying documents are properly prepared and filed.