Any person eligible to be a debtor under a given bankruptcy proceeding may file a voluntary petition, but must be insolvent to do so.

Question

Quizplus · Accepted Answer

A person does not need to be insolvent to file a voluntary petition for bankruptcy; they only need to believe that they are unable to pay their debts as they become due. Insolvency is not a requirement for filing most types of bankruptcy petitions.

Any Person Eligible to Be a Debtor Under a Given