The bankruptcy process is initiated by means of:

Name: The bankruptcy process is initiated by means of:
Brand: Quizplus
Rating: 4.7 (49 reviews)

Question

Quizplus · Accepted Answer

Both a creditor or a debtor can initiate the bankruptcy process by presenting a petition to the court. In contrast, a secured creditor may obtain a court order for the seizure of a debtor's assets to repay the outstanding loan, but this action is not the same as the bankruptcy process. Lastly, the official receiver or trustee may become involved in the bankruptcy process after it has commenced.

The Bankruptcy Process Is Initiated by Means Of