A ________ involves the sale of a debtor's assets by a trustee and the distribution of the money to creditors.
A) Chapter 7
B) Chapter 9
C) Chapter 11
D) Chapter 13
E) Chapter 15

Question

Quizplus · Accepted Answer

Chapter 7 bankruptcy involves the liquidation of a debtor's assets by a trustee. The proceeds from the sale of assets are then distributed to creditors to pay off debts. This process is designed to give a fresh start to individuals or businesses unable to repay their debts.

A ________ Involves the Sale of a Debtor's Assets by a Trustee