Which of the following requirements must be met for creditors to file an involuntary bankruptcy petition under Chapter 7 of the Federal Bankruptcy Code?
　　a.The debtor must owe one creditor more than $5,000.
　　b.At least one fully secured creditor must join in the petition.
　　c.The debtor has not been paying its bona fide debts as they become due.
　　d.There must not be more than 12 creditors.
　　Answer:C
　　Choice "C" is correct. An involuntary petition for bankruptcy can be filed if a debtor owes more than $14,425 in unsecured debt and is not paying its debts as they become due.
　　Choice "a" is incorrect. The debtor must owe at least $14,425 because the petition must be filed by unsecured creditors owed at least that much, but creditors can aggregate their claims. There is no requirement that the debtor owe one creditor $5,000.
　　Choice "d" is incorrect. There can be more than 12 creditors. If there are, at least three must join in the petition.
　　Choice "b" is incorrect. There is no requirement of a secured creditor joining in the petition. In fact, a secured creditor cannot be counted as one of the required petitioners to the extent that the security covers the obligation owed.