Chapter 7 bankruptcy will
A) eliminate all financial obligations.
B) result in the loss of all one's assets.
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 does not eliminate all financial obligations, nor does it result in the loss of all assets, as some exemptions apply. However, it does stay on one's credit record for up to 10 years.

Chapter 7 Bankruptcy Will