In a voluntary bankruptcy filing,the bankruptcy petition itself becomes the order for relief and is effective the moment it is filed with the court.

Voluntary Bankruptcy

The act of deliberately filing for bankruptcy by an individual or organization as a mechanism to address insurmountable debt.

Bankruptcy Petition

A formal request filed by an individual or business to declare bankruptcy, seeking protection from creditors.

Order for Relief

A court order that provides relief from certain types of legal obligations or protections in bankruptcy proceedings.