Question 1

List the documents that must be filed within 45 days of the filing of a petition by an individual debtor in a Chapter 7 or Chapter 13 case in order to prevent the case from being dismissed automatically.

Accepted Answer

The documents that must be filed within 45 days are the documents identified in 11 U.S.C.A. § 521(a) of the Bankruptcy Code such as the list of creditors, schedules of assets and liabilities, schedule of current income and current expenditures, statement of financial affairs, a statement indicating that the debtor received the § 342(b) notice, and copies of payment advices received within 60 days prior to filing the petition. The debtor should check Procedural Form No. B200 for some guidance.

Question 2

The Waterfront Fish Market was incorporated under the laws of Delaware. For many years the market was able to show a small profit. About a year ago a new fish market opened nearby and the Waterfront Fish Market lost some of its customers. For the past several months, the market has been unable to pay its creditors. The market could file for bankruptcy under Chapter 7, 11, or 13.

Accepted Answer

A) True 
 B)False  False

Question 3

When interviewing a prospective debtor, a paralegal should inquire whether an individual has been a debtor in a case pending within the past year, because that may affect whether the automatic stay goes into effect and the duration of the stay.

Accepted Answer

A) True 
 B)False  True

Question 4

A creditor may file a notice in a bankruptcy case indicating the address to be used by all parties for giving that creditor notice in that particular bankruptcy case.

Accepted Answer

A) True 
 B)False

Question 5

Charles Smithfield, a fifth-grade teacher, was unable to pay his bills as they came due. If Charles received a briefing on opportunities available for credit counseling from an approved nonprofit budget- and credit-counseling agency within the past 180 days, Charles is eligible to file for bankruptcy under Chapter 7, 11, or 13.

Accepted Answer

A) True 
 B)False

Question 6

How long prior to a bankruptcy filing does an individual debtor have to receive a briefing from an approved nonprofit budget- and credit-counseling agency?

Accepted Answer

The answer of How long prior to a bankruptcy filing...

Question 7

In cases under Chapters 7, 11, and 13, an individual debtor must, upon the request of the bankruptcy court or the United States trustee, file copies of all federal tax returns due while the case is pending.

Accepted Answer

A) True 
 B)False

Question 8

A debtor must be able to document the debtor's identity with a photo ID if requested by the bankruptcy court, the United States trustee, or the case trustee.

Accepted Answer

A) True 
 B)False

Question 9

MATCHING
Match each statement with the correct item below.
a.
Municipalities.
b.
Family farmers or family fishermen with regular annual income.
c.
All persons except railroads, insurance companies, and certain banking institutions.
d.
Individuals with regular income and individuals with regular income and spouse.
e.
All persons except insurance companies, certain banking institutions, stockbrokers, and commodity brokers.
-Chapter 7
 11. Chapter 9
 12. Chapter 11
 13. Chapter 12
 14. Chapter 13

Accepted Answer

The answer of MATCHING
Match each statement with the correct item...

Question 10

Mary Valesquez and Cynthia Webster formed a partnership for the purpose of operating an interior decorating shop. Mary and Cynthia found it difficult to pay their creditors, and after the first year in business the shop closed. Mary and Cynthia are eligible to file a joint petition under Chapter 7.

Accepted Answer

A) True 
 B)False

Question 11

Dana Jones, an individual, has a number of debts, one of which is a loan she obtained to pay college tuition. Dana should file a Chapter 13, as this debt is dischargeable under Chapter 13 but not under Chapter 7.

Accepted Answer

A) True 
 B)False

Question 12

List several factors to consider when determining whether a debtor should file under Chapter 7 or Chapter 11.

Accepted Answer

The answer of List several factors to consider when determining...

Question 13

What is the effect of a debtor in a case under Chapter 7 and Chapter 13 failing to complete an instructional course in personal financial management?

Accepted Answer

The answer of What is the effect of a debtor...

Question 14

A creditor may send a notice to any bankruptcy court indicating the address that must be used by every bankruptcy court in giving notices to that creditor.

Accepted Answer

A) True 
 B)False

Question 15

Explain how a notice received by a debtor from a creditor may affect the address to be used in giving notice to that creditor.

Accepted Answer

The answer of Explain how a notice received by a...

Question 16

Discuss several factors to consider when determining whether a debtor should file under Chapter 7 or Chapter 13.

Accepted Answer

The answer of Discuss several factors to consider when determining...

Exam 4: Information Gathering, Analysis, Counseling, and Drafting

List the documents that must be filed within 45 days of the filing of a petition by an individual debtor in a Chapter 7 or Chapter 13 case in order to prevent the case from being dismissed automatically.

When interviewing a prospective debtor, a paralegal should inquire whether an individual has been a debtor in a case pending within the past year, because that may affect whether the automatic stay goes into effect and the duration of the stay.

A creditor may file a notice in a bankruptcy case indicating the address to be used by all parties for giving that creditor notice in that particular bankruptcy case.

How long prior to a bankruptcy filing does an individual debtor have to receive a briefing from an approved nonprofit budget- and credit-counseling agency?

In cases under Chapters 7, 11, and 13, an individual debtor must, upon the request of the bankruptcy court or the United States trustee, file copies of all federal tax returns due while the case is pending.

A debtor must be able to document the debtor's identity with a photo ID if requested by the bankruptcy court, the United States trustee, or the case trustee.

Mary Valesquez and Cynthia Webster formed a partnership for the purpose of operating an interior decorating shop. Mary and Cynthia found it difficult to pay their creditors, and after the first year in business the shop closed. Mary and Cynthia are eligible to file a joint petition under Chapter 7.

Dana Jones, an individual, has a number of debts, one of which is a loan she obtained to pay college tuition. Dana should file a Chapter 13, as this debt is dischargeable under Chapter 13 but not under Chapter 7.

List several factors to consider when determining whether a debtor should file under Chapter 7 or Chapter 11.

What is the effect of a debtor in a case under Chapter 7 and Chapter 13 failing to complete an instructional course in personal financial management?

A creditor may send a notice to any bankruptcy court indicating the address that must be used by every bankruptcy court in giving notices to that creditor.

Explain how a notice received by a debtor from a creditor may affect the address to be used in giving notice to that creditor.

Discuss several factors to consider when determining whether a debtor should file under Chapter 7 or Chapter 13.