# Voluntary Debtor

**IRI:** https://folio.openlegalstandard.org/RDD66e8VCE7IJIIIzYnEdpn

## Labels

## 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.

## Sub Class Of

- https://folio.openlegalstandard.org/R77pHybcEdlO9OmqSuiyWi1

**Deprecated:** False