Which of the Following Is False Regarding Chapter 13 of the Bankruptcy

question 42

Multiple Choice

Which of the following is false regarding Chapter 13 of the bankruptcy code?

• A) Chapter 13 permits individuals to pay their debts to creditors in installment plans under the supervision of the court.
• B) Any debtor who files under Chapter 13 could also have filed under Chapter 11.
• C) Chapter 13 repayment plans are usually simpler and less expensive than Chapter 11 plans.
• D) By statute Chapter 13 plans last between 36 and 60 months.
• E) Individuals, partnerships and corporations may file for a Chapter 13 repayment plan.

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Definitions:

Guaranteed Indebtedness

Obligations for which a third party guarantees payment in case the primary debtor fails to pay.

Poor Eyesight

A condition where a person's vision is impaired, making it difficult to see clearly without the aid of corrective lenses or surgery.

Undue Influence

Improper or wrongful pressure exerted on one person by another in order to coerce an action, contrary to their will.

Rebuttable Presumption

A legal assumption that can be challenged and disproven with evidence.