Which of the Following Is True of Chapter 7 Liquidation

question 45

Multiple Choice

Which of the following is true of Chapter 7 liquidation?

• A)The debtor is not permitted to keep any of his or her assets.
• B)The 2005 bankruptcy act has eased the process of applying for Chapter 7 bankruptcy.
• C)The debtor's future income cannot be reached to pay the discharged debt.
• D)Petitioning for Chapter 7 liquidation does not permit the debtor to petition for bankruptcy under any other chapter.

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