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DunkinJr DunkinJr
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6 years ago
The repayment plan the debtor proposes should reflect regular monthly or ________ payments.
 
  A) Weekly
  B) Biweekly
  C) Monthly
  D) Daily

Q. 2

A(n) ________ owns an ownership interest in the businessfor example, an interest of a limited partner in a limited partnershipor shares in a corporation.
 
  Fill in the blank(s) with correct word

Q. 3

Individuals filing for Chapter 13 and Chapter 7 must attend
 
  A) A seminar
  B) A credit counseling session
  C) A debt counseling session
  D) A counseling session

Q. 4

Although Chapter 7 is more widely recognized, the change in bankruptcy law has resulted in an increase of Chapter 13 filings.
 
  Indicate whether the statement is true or false

Q. 5

Fully Summarize the Chapter 13 process.
 
  What will be an ideal response?
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Replies
wrote...
6 years ago
(Answer to #1)  B

(Answer to #2)  equity security holder

(Answer to #3)  B

(Answer to #4)  TRUE

(Answer to #5)  Student should address the fact that Chapter 13 is available to individuals with regular income. Student should discuss how a person comes to file a Chapter 13. Some individuals must file Chapter 13 due to their income level and some choose Chapter 13 to retain certain assets, etc. The student should address issues dealing with the means test, how co-debtors are treated, pre-petition credit counseling, the meeting of the creditors, the formulation of a repayment plan, how creditors are paid and treated, i.e., priority creditors must be paid in full by the end of the plan.
DunkinJr Author
wrote...
6 years ago
I wanna give this person a hug.
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