Evelyn and Charles derive 80 percent of their gross income from family farming on their 78-acre farm.Currently,their debts from the farming operation are $137,600 and their other debts total $19,450.If they decide bankruptcy is their best option in their present situation,they should file their case under Chapter 15 of the Bankruptcy Code.

Question

Quizplus · Accepted Answer

The question does not provide enough information to determine which chapter they should file under. The fact that they derive 80 percent of their gross income from family farming may suggest that they could be eligible for Chapter 12, which is specifically designed for family farmers and fishermen. However, more information is needed to make a definite determination.

Evelyn and Charles Derive 80 Percent of Their Gross Income