Program Planning Never Requires Revision

question 32

True/False

Program planning never requires revision

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Definitions:

Automatic Stay

A legal provision that halts all collections, foreclosures, and legal proceedings against a debtor once they have filed for bankruptcy.

Bankruptcy Filing

A legal process by which an individual or business entity declares their inability to pay off outstanding debts.

Liquidation

The conversion of property into cash.

Family Farmer

Under Chapter 12 of the Bankruptcy Code, a farmer who receives more than half the total income from the farm. In addition, to qualify as a family farmer, 80 percent of the farmer’s debt must result from farm expenses.