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In a Chapter 7 Proceeding,an Unsecured Creditor Who Files a Claim

question 63

True/False

In a Chapter 7 proceeding,an unsecured creditor who files a claim with the court after the deadline because he is too busy planning and going on a vacation would be totally unable to collect.


Definitions:

Media Coverage

The reporting, broadcasting, or publishing of news and information by various media outlets, such as television, radio, newspapers, and the internet.

Misinformation Effect

The phenomenon where a person's recall of episodic memories becomes less accurate due to post-event information.

Fundamental Attribution Error

It is the tendency to overemphasize personality-based explanations for others' behaviors while underestimating the role of situational factors.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method or decision.

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