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

question 17

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