Assets That a Debtor Gains After Filing a Voluntary Chapter

question 63

True/False

Assets that a debtor gains after filing a voluntary Chapter 7 bankruptcy petition are generally not part of the bankruptcy estate unless they fall under an exemption.

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Definitions:

Buddha's Mother

Maya, also known as Queen Maya, was the mother of Siddhartha Gautama, who became known as the Buddha.

Maya

An advanced Mesoamerican civilization known for its intricate writing system, architecture, mathematics, and astronomical achievements.

Urna

A whorl of hair, represented as a dot, between the brows; one of the lakshanas of the Buddha.

Relief

A sculptural technique where the sculpted elements remain attached to a solid background of the same material, creating a design that projects from the surrounding surface.