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What Is the Petition for Involuntary Bankruptcy?

April 26, 2017Bankruptcy Involuntary petition

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What Is the Petition for Involuntary Bankruptcy?

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In most cases, bankruptcies are filed by debtors but creditors may file an involuntary petition for bankruptcy against a debtor. These petitions typically are filed to try and recoup a portion of what they are owed or to initiate a restructuring of a business.