Which of the following is true of bankruptcy law in the United States?

Question

Quizplus · Accepted Answer

The 1978 bankruptcy law, also known as the Bankruptcy Reform Act, made it easier for debtors to be relieved of much of their debt. It created a new chapter, Chapter 13, which allowed individuals to reorganize their debts and make payments over a period of time.

B and D are incorrect as they both contradict the actual status of the bankruptcy law.

C is also incorrect as the bankruptcy act of 2005, which is also known as the Bankruptcy Abuse Prevention and Consumer Protection Act, makes it more difficult for individuals to file for bankruptcy and be relieved of their debts under federal bankruptcy law.

Which of the Following Is True of Bankruptcy Law in the United