Jun-Seo Owes $20,000 in Unsecured Claims to 15 Different Creditors,and

question 37

Multiple Choice

Jun-seo owes $20,000 in unsecured claims to 15 different creditors,and he has generally not been paying debts that are due.Two of Jun-seo's creditors want to force him into bankruptcy by filing an involuntary petition;the other creditors do not agree.Which of the following statements is correct about this situation?

• A)An involuntary petition cannot be filed because Jun-seo is not that deeply in debt.
• B)An involuntary petition cannot be filed because not enough creditors want to force Jun-seo into bankruptcy.
• C)An involuntary petition can be filed because Jun-seo is not making his payments in a timely way.
• D)An involuntary petition can be filed because any one of Jun-seo's creditors can force him into bankruptcy.