Multiple Choice
Under Chapter 7, the primary effect of a discharge is to
A) extend the time for the debtor's payment of overdue debts.
B) allow a creditor to collect a previous judgment on a discharged debt.
C) force a creditor to obtain a new judgment on a discharged debt.
D) void a judgment on a discharged debt and prohibit an action to collect it.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Each state permits a debtor in bankruptcy
Q3: Under Chapter 7, once the proceeds have
Q4: Compared to Chapter 7 and 11 plans,
Q5: An involuntary bankruptcy occurs when a debtor<br>A)files
Q6: With respect to creditors, the main goal
Q8: If there is a presumption of abuse,
Q9: In addition to financial statements, each voluntary
Q10: Under Chapter 13, a repayment plan must
Q11: In a Chapter 11 proceeding, a debtor
Q12: Voluntary petitions may be filed to initiate