Clarification Statements

question 46

Multiple Choice

Clarification statements

• A)serve to clarify the interviewee's response.
• B)remain very close to the meaning of the interviewee's response.
• C)may add to the interviewee's response.
• D)all of these

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Definitions:

Unsecured Claims

Claims or debts that are not backed by collateral, meaning if the debtor defaults, the creditor does not have a right to seize specific property to satisfy the debt.

Exempt Property

Property that a debtor is allowed to retain, free from the claims of creditors seeking to repossess or sell the property for debt recovery.

Chapter 7 Bankruptcy

A liquidation form of bankruptcy available to individuals and businesses, resulting in the sale of non-exempt assets to pay creditors and discharge most debts.

Equity

The fair and impartial treatment in justice or the value of ownership interest in a property after debts are subtracted.