In a Bankruptcy, a Trustee

question 63

Multiple Choice

In a bankruptcy, a trustee

• A)is required to draw up a petition listing all of your assets and liabilities.
• B)will have to pay a filing fee.
• C)is appointed by a 'banker'
• D)seeks absolution from alimony and child support payments.
• E)repays educational loans first.

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Definitions:

Series

A sequence of numbers or terms that follow a specific pattern.

Outstanding Balance

Outstanding balance refers to the amount of money that is still owed on a loan or credit account at any given time.

Invoice

A document issued by a seller to a buyer that lists goods or services provided and the due payment.

Payment

The act of giving money or other compensation to settle a transaction.