Debtors And Involuntary Bankruptcy
A San Jose bankruptcy attorney talks about Debtors And Involuntary Bankruptcy
An involuntary bankruptcy is basically what it sounds like, involuntary - or not by voluntary means. A debtor and involuntary bankruptcy is analogous to a civil class action lawsuit by a majority of one’s creditors. When a debtor has less than twelve creditors, it takes only one creditor to request the court to initiate an involuntary bankruptcy. When a debtor has twelve or more creditors, it takes the cooperation of at least three creditors to set forth an involuntary bankruptcy. The involuntary bankruptcy petition is proposed to the court, and if accepted that petition is treated exactly the same as a voluntary petition. Nonprofit organizations and farmers are exempt from involuntary bankruptcy proceedings.
If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!
