Problemas
Chapter 9 Test - 8th Chapter 13 eliminates most types of dobt, and the court takes and sells the debtor's property to provide money to the creditors. True False
Roztwór
José
veterano · Tutor durante 11 años
4.1
(334 Votos)
Respuesta
False
Explicación
## Step 1The problem statement is a statement about Chapter 13 bankruptcy. Chapter 13 bankruptcy is a type of bankruptcy that involves the reorganization of a debtor's debts. ## Step 2In Chapter 13 bankruptcy, the debtor does not eliminate most of their debts. Instead, they propose a plan to repay all or part of their debts over a period of three to five years. ## Step 3The statement in the problem is incorrect because it suggests that Chapter 13 bankruptcy involves the elimination of most debts and the selling of the debtor's property to pay off the creditors. This is not the case. ## Step 4The correct process in Chapter 13 bankruptcy involves the debtor proposing a plan to repay all or part of their debts over a period of three to five years. This plan is subject to approval by the bankruptcy court. ## Step 5If the court approves the plan, the debtor makes regular payments to a trustee, who then distributes the funds to the creditors. The debtor's property is not sold off in this process.