Question 1

The debtor is filing for bankruptcy by the end of the week but is currently behind one month on his car payments. The debtor should file _________

Accepted Answer

A)  Chapter 7 if the debtor wishes to keep the car. 
B)  Chapter 13 if the debtor wishes to keep the car. 
A)  Chapter 7 if the debtor wishes to keep the car. 
B)  Chapter 13 if the debtor wishes to keep the car. B

Question 2

Provide two examples of why a debtor may file for Chapter 13.

Accepted Answer

A debtor is likely to file Chapter 13 when the debtor's income exceeds the state median or the debtor wishes to keep non-exempt assets.

Question 3

The most common type of bankruptcy filed by consumers is ________

Accepted Answer

A)  Chapter 7. 
B)  Chapter 13. 
A)  Chapter 7. 
B)  Chapter 13. A

Question 4

Briefly explain income used for purposes of the Means Test and for Schedule I.

Accepted Answer

The answer of Briefly explain income used for purposes of...

Question 5

What is a bankruptcy estate?

Accepted Answer

The answer of What is a bankruptcy estate?...

Question 6

If a debtor passes the Means Test, the debtor can proceed to file Chapter 13.

Accepted Answer

A) True 
 B)False

Question 7

Can a debtor pass the Means Test but still file for Chapter 13?

Accepted Answer

A) True 
 B)False

Question 8

Briefly explain an exemption and provide an example.

Accepted Answer

The answer of Briefly explain an exemption and provide an...

Question 9

When is a bankruptcy estate created?

Accepted Answer

The answer of When is a bankruptcy estate created?...

The debtor is filing for bankruptcy by the end of the week but is currently behind one month on his car payments. The debtor should file _________

Provide two examples of why a debtor may file for Chapter 13.

The most common type of bankruptcy filed by consumers is ________

Briefly explain income used for purposes of the Means Test and for Schedule I.

What is a bankruptcy estate?

If a debtor passes the Means Test, the debtor can proceed to file Chapter 13.

Can a debtor pass the Means Test but still file for Chapter 13?

Briefly explain an exemption and provide an example.

When is a bankruptcy estate created?

The History of Bankruptcy Law

Overview of the Bankruptcy Code

The Court System and the Bankruptcy Rules and Procedure

The Bankruptcy Intake

Bankruptcy Intake Continued

Bankruptcy Intake: Employment, Income, and Expenses

Liabilities, and Required Documents

The Bankruptcy Petition

Assets and Liabilities

Schedules AB: Personal Property and C: Exemptions

Schedules of Secured and Unsecured Creditors

Schedule I: Income

Schedule J: Expenses

Statement of Financial Affairs

Understanding Legal Options and Judgments in Debt Cases

Statement of Current Monthly Income

Means Testing Official Form 122A-2

Bankruptcy and Debt: Understanding Hardship Discharge, Lien Stripping, and Cramdowns

Filing a Bankruptcy Petition

Post-Petition Filing

The 341 Meeting of Creditors

Filters

Exam 3: Summary of Exam 7 Versus Exam 13

The debtor is filing for bankruptcy by the end of the week but is currently behind one month on his car payments. The debtor should file _________

Provide two examples of why a debtor may file for Chapter 13.

The most common type of bankruptcy filed by consumers is ________

Briefly explain income used for purposes of the Means Test and for Schedule I.

What is a bankruptcy estate?

If a debtor passes the Means Test, the debtor can proceed to file Chapter 13.

Can a debtor pass the Means Test but still file for Chapter 13?

Briefly explain an exemption and provide an example.

When is a bankruptcy estate created?

The History of Bankruptcy Law

Overview of the Bankruptcy Code

The Court System and the Bankruptcy Rules and Procedure

The Bankruptcy Intake

Bankruptcy Intake Continued

Bankruptcy Intake: Employment, Income, and Expenses

Liabilities, and Required Documents

The Bankruptcy Petition

Assets and Liabilities

Schedules AB: Personal Property and C: Exemptions

Schedules of Secured and Unsecured Creditors

Schedule I: Income

Schedule J: Expenses

Statement of Financial Affairs

Understanding Legal Options and Judgments in Debt Cases

Statement of Current Monthly Income

Means Testing Official Form 122A-2

Bankruptcy and Debt: Understanding Hardship Discharge, Lien Stripping, and Cramdowns

Filing a Bankruptcy Petition

Post-Petition Filing

The 341 Meeting of Creditors

Filters