Chapter 13 Bankruptcy Is Sometimes Referred to as a ______________________

question 31

Multiple Choice

Chapter 13 bankruptcy is sometimes referred to as a ______________________:

• A) reorganization bankruptcy.
• B) realignment bankruptcy.
• C) recharging bankruptcy.
• D) revision bankruptcy.

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Definitions:

Restricted

Pertains to assets or securities that are not fully transferable until certain conditions, often regulatory, are met.

Assigned

The allocation or designation of resources, responsibilities, or tasks to a specific account, project, or individual.

Unassigned

Refers to resources or tasks that have not been allocated or designated to a specific category, department, or individual.

Encumbrances Outstanding

Liens or claims against property or assets that are unresolved or have not been paid off, affecting an owner's ability to transfer a clear title.