The Debtor in a Chapter 13 Proceeding Can Keep More

question 82

True/False

The debtor in a Chapter 13 proceeding can keep more property than under a Chapter 7 proceeding.

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Definitions:

Noncumulative Preferred Stock

A type of preferred stock on which the right to receive dividends ends if the dividends are not declared in the year they are earned.

Undeclared Dividends

These are dividends that have been earned by shareholders but have not yet been officially announced by the company.

Cumulative

An adjective describing quantities or changes that are added together sequentially over time.