Bankruptcy

Bankruptcy
An involuntary bankruptcy case is initiated when one or more creditors file a petition and a summons with the clerk of the U.S. Bankruptcy Court. The debtor has 20 days to file objections. If that happens, the case can go to trial to determine if the filing was appropriate. If the debtor does not object, the bankruptcy proceeds in the same fashion as a voluntary case. An involuntary bankruptcy can provide relief in a number of ways, as it forces a debtor to confront all his creditors at once, instead of giving money only to those who press the hardest. It also keeps a debt…