Which of the following is true of a Chapter 13 petition?

Question

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To qualify for Chapter 13, the debts must primarily be consumer debt. This means that at least half of the total debt must be from consumer transactions, such as credit card debt or medical bills. Additionally, the petitioner must have a regular income and meet certain other requirements.

Option A is false because high-income debtors have to pass a means test to qualify for Chapter 13.

Option B is false because the petitioner must propose a repayment plan to the court, which may involve an extension or composition of debts.

Option D is false because only debtors can file a Chapter 13 petition, and creditors cannot file it to claim payment from a debtor.

Which of the Following Is True of a Chapter 13