Which of the following is required in order to file a Chapter 13 bankruptcy?
A) Unsecured debts under $360,475 and/or secured debts under $1,081,400.
B) Unsecured debts over $450,000 and/or secured debts over $2,050,000.
C) Debts must simply be in excess of the debtor's assets, regardless of the amount.
D) Assets must simply be in excess of the debtor's debts, regardless of the amount.
E) More than 10 years must have lapsed after the date fixed for the repayment of the debts.

Question

Quizplus · Accepted Answer

Under Chapter 13, individuals who have secured debts (mortgages, security interests against personal property, and so on) of less than $1,081,400 and unsecured debts of less than $360,475 (these amounts change periodically) can have their debts adjusted by the court for repayment.

Which of the Following Is Required in Order to File