Which of the following is true of the median income test?
A) If a family has median family income equal to the state's median family income, the debtor does not qualify for Chapter 7 bankruptcy.
B) If a family has median family income below the state's median family income, the debtor is subject to the "means" test.
C) If a family has median family income below the state's median family income, the debtor automatically qualifies for Chapter 7 bankruptcy.
D) A debtor's debts are not discharged if the family median income is more than the state's median family income.
Correct Answer:
Verified
Q26: Which of the following is a federal
Q27: The means test is used to determine
Q28: As changed in the 2005 Act,which of
Q32: _ property may be retained by a
Q33: Which of the following is also referred
Q34: _ is a rehabilitation form of bankruptcy
Q35: What is Chapter 7 discharge?
A) The termination
Q52: What is a homestead exemption?
A) investment in
Q56: Which of the following is true of
Q57: The _ is a bankruptcy rule that
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents