Deck 16: Understanding Legal Options and Judgments in Debt Cases

Question 1

If the debtor is keeping a secured debt, the debtor can decide to __________.

A) redeem.
B) reaffirm.
C) retain.
D) all of the above.

Answer 1

all of the above.

Question 2

The ride-through option exists only in community property states.

Answer 2

False

Question 3

The Statement of Intention only applies to leases.

Answer 3

False

Question 4

The ride-through option was _____________.

A) created by case law.
B) legislation passed by Congress post BAPCPA.
C) available in the ninth circuit until 2019.
D) none of the above.

Question 5

Because there's no ownership interest with an executory contract, the Statement of Intention is inapplicable.

Question 6

Describe the ride-through option.

Question 7

What are the three r's?

Question 8

What is the difference between a default judgment and a deficiency judgment?