In a(n)______________,creditors ﬁle a petition with the court,forcing the declaration of bankruptcy and the beginning of proceedings.

Question

Quizplus · Accepted Answer

Involuntary bankruptcy is when creditors file a petition with the court to force the declaration of bankruptcy and start the proceedings. In contrast, voluntary bankruptcy is initiated by the debtor themselves. The other options are not commonly used terms in bankruptcy law.

In A(n)______________,creditors ﬁLe a Petition with the Court,forcing the Declaration