{"id":5500,"date":"2019-10-22T08:32:28","date_gmt":"2019-10-22T08:32:28","guid":{"rendered":"https:\/\/mcintirelaw.com\/?p=5500"},"modified":"2023-05-05T01:45:38","modified_gmt":"2023-05-05T01:45:38","slug":"involuntary-bankruptcy-in-west-virginia","status":"publish","type":"post","link":"https:\/\/mcintirelaw.com\/involuntary-bankruptcy-in-west-virginia\/","title":{"rendered":"Involuntary Bankruptcy in West Virginia"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-1\"><p>Debtors usually file for bankruptcy voluntarily, but bankruptcy laws do allow creditors to force a debtor to declare bankruptcy by filing a petition for <img decoding=\"async\" class=\"size-medium wp-image-5502 alignright\" src=\"https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?resize=300%2C200&#038;ssl=1\" alt=\"Involuntary Bankruptcy\" width=\"300\" height=\"200\" srcset=\"https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?resize=200%2C133&amp;ssl=1 200w, https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?resize=400%2C266&amp;ssl=1 400w, https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?resize=600%2C399&amp;ssl=1 600w, https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?fit=640%2C426&amp;ssl=1 640w\" sizes=\"(max-width: 300px) 100vw, 300px\" data-recalc-dims=\"1\" \/>bankruptcy themselves. This is called involuntary bankruptcy.<\/p>\n<p>An involuntary bankruptcy petition is more often filed on behalf of business debtors, although an individual debtor of means may also be targeted. Overall, a creditor would not bother if it\u2019s obvious that the debtor has no assets with which to pay back debts. If a debtor\u2019s assets are insufficient to cover debt payments, bankruptcy protection includes an automatic stay that will keep creditors from going after most of their assets.<\/p>\n<h2 data-fontsize=\"34\" data-lineheight=\"41.14px\" class=\"fusion-responsive-typography-calculated\" style=\"--fontSize:34; line-height: 1.21;\"><span class=\"ez-toc-section\" id=\"How_Creditors_File_Involuntary_Bankruptcy\"><\/span>How Creditors File Involuntary Bankruptcy<span class=\"ez-toc-section-end\"><\/span><\/h2><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-662a898aa1654\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-662a898aa1654\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mcintirelaw.com\/involuntary-bankruptcy-in-west-virginia\/#How_Creditors_File_Involuntary_Bankruptcy\" title=\"How Creditors File Involuntary Bankruptcy\">How Creditors File Involuntary Bankruptcy<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mcintirelaw.com\/involuntary-bankruptcy-in-west-virginia\/#How_Debtors_Respond\" title=\"How Debtors Respond\">How Debtors Respond<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mcintirelaw.com\/involuntary-bankruptcy-in-west-virginia\/#What_Limitations_Are_in_Place\" title=\"What Limitations Are in Place\">What Limitations Are in Place<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mcintirelaw.com\/involuntary-bankruptcy-in-west-virginia\/#How_to_Get_Legal_Advice\" title=\"How to Get Legal Advice\">How to Get Legal Advice<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>Involuntary bankruptcies can be filed with the bankruptcy court under <a href=\"https:\/\/mcintirelaw.com\/west-virginia-chapter-7-bankruptcy-attorney\/\"><u>bankruptcy Chapter 7<\/u><\/a> or Chapter 11. Creditors cannot do the same with Chapter 13 or Chapter 12 of the bankruptcy code. In filling out bankruptcy forms, the creditor must state the reason for filing involuntary bankruptcy. The usual reason is that the debtor is unable to pay due debts or that an agent or custodian has taken control of the debtor\u2019s assets in the last 120 days in order to enforce a lien.<\/p>\n<h3 data-fontsize=\"22\" data-lineheight=\"36.74px\" class=\"fusion-responsive-typography-calculated\" style=\"--fontSize:22; line-height: 1.67; --minFontSize:22;\"><span class=\"ez-toc-section\" id=\"How_Debtors_Respond\"><\/span>How Debtors Respond<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If one of your creditors files bankruptcy for you, you have the option to oppose it. You must show that the petition is not justified. You and the creditor have to present each of your cases before a bankruptcy judge who will either dismiss or sustain the petition. If your bankruptcy case is dismissed, it\u2019s possible for you to receive compensation from the creditor. When their petitions are kept intact, bankruptcy cases follow the bankruptcy process as intended by the petitioners.<\/p>\n<p>If you don\u2019t oppose the filing, you will be brought into bankruptcy proceedings as though you had filed the petition yourself.<\/p>\n<h3 data-fontsize=\"22\" data-lineheight=\"36.74px\" class=\"fusion-responsive-typography-calculated\" style=\"--fontSize:22; line-height: 1.67; --minFontSize:22;\"><span class=\"ez-toc-section\" id=\"What_Limitations_Are_in_Place\"><\/span>What Limitations Are in Place<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Not all creditors are qualified to take advantage of this provision of the bankruptcy law. There are restrictions that guide bankruptcy filings done by creditors. For instance, a single creditor usually isn\u2019t allowed to <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-means-test-estimator\/\"  rel=\"dofollow\" title=\"file bankruptcy\" data-linkilo-keyword-link=\"linked\">file bankruptcy<\/a> on your behalf unless the debt in question reaches the threshold amount, and if you owe from fewer than 12 unsecured creditors. In the event that you have more than 12 unsecured creditors, at least three of them have to petition your bankruptcy together, and the money you owe them must collectively meet the threshold amount of unsecured debt.<\/p>\n<p>Unsecured debt refers to debt that is not attached to an asset that may be seized if you don\u2019t make your monthly payments. Secured creditors usually don\u2019t feel compelled to file involuntary bankruptcy since continuously missed car loan or mortgage payments will just lead to repossession or foreclosure.<\/p>\n<p>An important limitation to remember is that creditors may not file involuntary bankruptcy against farmers, non-profit organizations, credit unions, banks, insurers, and other certain types of organizations.<\/p>\n<h3 data-fontsize=\"22\" data-lineheight=\"36.74px\" class=\"fusion-responsive-typography-calculated\" style=\"--fontSize:22; line-height: 1.67; --minFontSize:22;\"><span class=\"ez-toc-section\" id=\"How_to_Get_Legal_Advice\"><\/span>How to Get Legal Advice<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If you\u2019re experiencing financial distress and now face an involuntary bankruptcy petition as well, it\u2019s best that you consult a <a href=\"https:\/\/mcintirelaw.com\/\"><u>bankruptcy attorney<\/u><\/a>  right away. It\u2019s one thing to go bankrupt and another to be forced to declare bankruptcy. Financial problems do have solutions. Whether it\u2019s debt management, <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-debt-settlement\/\"  rel=\"dofollow\" title=\"debt settlement\" data-linkilo-keyword-link=\"linked\">debt settlement<\/a>, or some other financial management option, pursue debt relief now. You can contact us at Thomas E. McIntire and Associates, L.C. for a free legal consultation.<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":5502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2019\/10\/laptop-3196481_640.jpg?fit=640%2C426&ssl=1","_links":{"self":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/5500"}],"collection":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/comments?post=5500"}],"version-history":[{"count":3,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/5500\/revisions"}],"predecessor-version":[{"id":6666,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/5500\/revisions\/6666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/media\/5502"}],"wp:attachment":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/media?parent=5500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/categories?post=5500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/tags?post=5500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}