Chapter 13 of the Bankruptcy Code Gives Individuals an Opportunity

question 78

True/False

Chapter 13 of the Bankruptcy Code gives individuals an opportunity to pay their debts free of such problems as garnishments and attachments of their property by creditors.

---

Definitions:

Billable Hours

The amount of an employee's work time that can be charged to a client, commonly used in professional services like law and consulting.

Net Income

The profit of a company after all expenses, taxes, and costs have been deducted from total revenue.

Profit Sharing

A compensation scheme where employees receive a portion of the company's profit, in addition to their regular salary.

Capital Balance

The amount of money an owner has invested in a business plus any retained earnings or minus any losses.