What are the debt limits of a Chapter 7?
A) The debt limit varies by state and it is based on the average household debt of that state.
B) The debt limits vary depending on the debt-to-income ratio.
C) Debt limits don't apply to Chapter 7 cases unless the debtor has filed a prior bankruptcy.
D) Debt limits apply to Chapter 13 cases, not Chapter 7.
Correct Answer:
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Q1: A hardship discharge can be best described
Q3: Jenny is filing for Chapter 13, and
Q4: A Chapter 13:
A) protects a debtor's credit
Q5: A cramdown or lien stripping can be
Q6: The length of a Chapter 13 plan
Q7: A Chapter 13 lasts _.
A) until the
Q8: Bruce's house is worth $315,000 and the
Q9: Due to a decline in housing sales,
Q10: A wage earner's plan is the term
Q11: Bob owns a business and lately, business
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