What Will the Courts Do If You File Chapter 7

question 86

Multiple Choice

What will the courts do if you file Chapter 7 personal bankruptcy?

• A)Confiscate most of your assets.
• B)Liquidate most of your assets to pay off creditors.
• C)Eliminate most of your debts.
• D)Allow you a chance to start again financially.
• E)all of the above

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Definitions:

Centralization

The process or practice of concentrating authority and decision-making in a central location or group within an organization.

Shared Decision-making

A collaborative approach where all members contribute to the decision process.

Decentralized

Pertains to the distribution of functions, powers, people, or things away from a central location or authority, often to achieve a more distributed and participative decision-making process.

M-Form

Multidivisional Form; an organizational structure that separates a company into semi-autonomous units or divisions based on product, service, or market.