Which of the Following Is True Regarding the Effect of an Automatic

question 82

Multiple Choice

Which of the following is true regarding the effect of an automatic stay on claims of secured creditors in a Chapter 7 proceeding?

• A) The stay affects claims of secured creditors in the same way in which it affects claims of unsecured creditors.
• B) Secured creditors with claims of over $5,000 are not affected by the stay.
• C) Secured creditors with claims of over $15,000 are not affected by the stay.
• D) Secured creditors with claims of over $20,000 are not affected by the stay.
• E) The court may exclude secured creditors from the stay if they petition the court to show that they do not have adequate protection under the stay.

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Definitions:

Personality Change

Alterations in an individual's characteristic patterns of thinking, feeling, and behaving over time.

Conscious Factor

Aspects of an individual’s psychological function that are within their immediate awareness and perception.

Unconscious Factor

Elements of thought and motivation that reside outside the conscious awareness but influence behavior and decisions.

Net Capital Loss

The financial loss that occurs when the total capital losses from investments exceed the total capital gains in a fiscal year.