Chapter 7 bankruptcy will typically
A) eliminate most debt obligations.
B) require monthly payments to a bankruptcy trustee.
C) stay on one's credit record up to 10 years.
D) a and c
E) a,b,and c

Question

Quizplus · Accepted Answer

Chapter 7 bankruptcy will eliminate most debt obligations, but it will stay on one's credit record up to 10 years. It does not require monthly payments to a bankruptcy trustee like Chapter 13 does.

Chapter 7 Bankruptcy Will Typically