A Straight Bankruptcy

Multiple Choice

A straight bankruptcy:

A) eliminates all the obligations of a debtor.
B) results in the loss of all the assets of a debtor.
C) results in the repayment of debt within 3 to 5 years.
D) exempts a debtor from all the tax payments and payments for alimony and child support.
E) allows a debtor to retain some other personal assets as per federal regulations.