1233 rsccdinstructurecom D Question 4 5 pts Chapter 7 is cal

12:33 rsccd.instructure.com D Question 4 5 pts Chapter 7 is called a liquidation All non-exempt property is sold and dischargeable debts ane discharged O True False DQuestion 5 5 pts Chapter 13 is a reorganization where the debtor comes up with a plan to pay off debts. O True O False Quiz saved at 12:33pm Submit Quiz Questions Question 1 Question 2 Question 3 D Question 4 O Question 5 Time Elapsed: Hide Attempt due Aug 5 at 11-59pm

Solution

ANSWER. TRUE

Chapter 7 bankruptcy is to discharge (wipe out) their debts. many people who file for Chapter 7 will be able to discharge most or all of their debts. Credit card debt is one of the most commonly discharged debts, but Chapter 7 will discharge many other types of debt, as well.

ANSWER 2 TRUE

A debtor may make plan payments through payroll deductions. This practice increases the likelihood that payments will be made on time and that the debtor will complete the plan. In any event, if the debtor fails to make the payments due under the confirmed plan, the court may dismiss the case or convert it to a liquidation case under chapter 7 of the Bankruptcy Code.