Voluntary Debtor

Voluntary Debtor - A voluntary debtor is an individual or entity that willingly initiates the process of declaring bankruptcy, typically by filing a petition in bankruptcy court. This is in contrast to an involuntary debtor, against whom creditors initiate the bankruptcy proceedings.

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Voluntary Debtor
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Definition and Examples

Definition
A voluntary debtor is an individual or entity that willingly initiates the process of declaring bankruptcy, typically by filing a petition in bankruptcy court. This is in contrast to an involuntary debtor, against whom creditors initiate the bankruptcy proceedings.
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