Deck 3: The Case Characters and Their Roles in the Bankruptcy Process

Question 1

An individual may not be a debtor under the Bankruptcy Code unless the individual has, within 180 days prior to the bankruptcy filing, received a briefing from an approved nonprofit budget- and credit-counseling agency.

Answer 1

True

Question 2

The nonprofit budget- and credit-counseling agencies that are eligible to provide briefings to individual debtors must be approved by the bankruptcy courts.

Answer 2

False

Question 3

The Code requires the party filing for bankruptcy to be insolvent.

Answer 3

False

Question 4

The bankruptcy court may not regulate the reasonableness of attorney fees charged to debtors in bankruptcy cases.

Question 5

What is a bankruptcy petition preparer?

Question 6

The bankruptcy judge appoints the members of the trustee panel.

Question 7

On June 1, 2006, Clarence Collier filed a petition for bankruptcy under Chapter 7. On June 15, First National Bank filed a motion for relief from the automatic stay. On June 20, Clarence filed a motion requesting dismissal of his case. The case was dismissed on July 1. Clarence could file a new petition for bankruptcy under Chapter 7 on November 28, 2006.

Question 8

The United States trustee is a member of the bankruptcy judge's staff.

Question 9

List the positions on the bankruptcy judge's staff.

Question 10

Stephanie Simpson, a United States citizen, is a reporter for a major newspaper. For the past three years she has been assigned to London. All of her property is with her in London. If Stephanie finds that she is unable to pay her creditors, she may file for bankruptcy under the Code.

Question 11

Debt relief agencies must comply with certain disclosure requirements.

Question 12

The bankruptcy court and the district court may, under certain circumstances, waive the filing fee for a debtor in a case under Chapter 7.

Question 13

The Code requires the party filing for bankruptcy to be a person, partnership, or corporation.

Question 14

A "debt relief agency" may include an attorney.

Question 15

An individual is not entitled to a discharge in a case under Chapter 7 if he or she has been a debtor and has received a discharge in a case commenced within the past eight years.

Question 16

The United States trustee is a member of the Chapter 7 trustee panel.

Question 17

If a creditor has a security interest in a motor vehicle worth $15,000 that secures a claim of $20,000, what type(s) of claim does the creditor have?

Question 18

A person cannot serve as a trustee unless he or she is a member of the trustee panel.

Question 19

The bankruptcy petition preparer is not an attorney or an employee of an attorney.

Question 20

What is an administrative expense?

Question 21

How long does an interim trustee serve in a Chapter 7 case?

Question 22

Define the term "equity security holder."

Question 23

Explain the difference between a creditor holding a secured claim and a creditor holding an unsecured priority claim.

Question 24

Define the term "statutory lienholder."

Question 25

Define the term "secured transaction."

Question 26

Describe the duties of the United States trustee.

Question 27

Explain the difference between a creditor holding a secured claim and a creditor holding an unsecured claim.

Question 28

What is the role of an examiner?

Question 29

What is the role of a case trustee in a Chapter 7 case?

Question 30

Describe the duties of the clerk of the bankruptcy court.

Question 31

What is a "standing trustee"?

Question 32

Define the term "creditor holding a secured claim."

Question 33

Explain a lease transaction.