A bankruptcy petition may be filed by one creditor of a debtor as long as the debtor owes him $14,425 or more in undisputed unsecured claims and the debtor has fewer than 12 creditors.

Question

Quizplus · Accepted Answer

This statement is true according to the bankruptcy code. However, it is important to note that just because a creditor can file a bankruptcy petition, it doesn't mean that it is always in their best interest to do so.

A Bankruptcy Petition May Be Filed by One Creditor of a Debtor