Under the Bankruptcy Code a Debtor

question 54

Multiple Choice

Under the Bankruptcy Code a debtor:

• A) must elect to use either the set of exemptions provided by the state or the set provided by the federal bankruptcy law.
• B) must honor the instructions of the adjudicating court with regard to the set of exemptions that he should take.
• C) must accept the decision of the creditors with regard to the exemptions to be taken so as to not jeopardize their chances of recovery.
• D) may pick and choose between them the set of exemptions provided by the state or the set provided by the federal bankruptcy law.

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Definitions:

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An influential American lawyer and Associate Justice of the U.S. Supreme Court (1916-1939), known for his support of privacy rights and progressive social policies.