Question 1

How does a separation affect bankruptcy?

Accepted Answer

A separation affects bankruptcy because the spouse's income is not included in Schedule I or the Means Test. If the debtor is paying support to the spouse, it will affect expenses on Schedule J.

Question 2

Debra had previously received a discharge in a Chapter 13 case. When can she file Chapter 13 again?

Accepted Answer

Debra can file a second Chapter 13 if the discharge was received more than two years ago.

Question 3

Since John can't afford to pay child support or alimony due to his other financial obligations, he should proceed to file bankruptcy and eliminate the arrears and obligations.

Accepted Answer

A) True 
 B)False  False

Question 4

If a debtor's Chapter 7 bankruptcy was dismissed, the debtor can refile for Chapter 7:

Accepted Answer

A)  after eight years. 
B)  on the 181st day after the dismissal. 
C)  once a case is dismissed, court permission is always required to refile. 
D)  none of the above. 
A)  after eight years. 
B)  on the 181st day after the dismissal. 
C)  once a case is dismissed, court permission is always required to refile. 
D)  none of the above.

Question 5

What is the difference between the 180 and 730 day rule?

Accepted Answer

The answer of What is the difference between the 180...

Question 6

How many times can a debtor file for Chapter 7 bankruptcy?

Accepted Answer

The answer of How many times can a debtor file...

Question 7

On March 1st, Bobby was divorced. Per the divorce agreement, he owed $10,000 in child support arrears, and his monthly child support obligation is $700 per month. While the court order required Bobby to pay $50 towards the arrears monthly, he was paying $100. Bobby is ready to file for bankruptcy and did his best to eliminate the arrears, but as of October 31st, he still owes $9,000. Can Bobby file Chapter 7 bankruptcy, assuming he passes the Means Test?

Accepted Answer

Question 8

To confirm if the debtor can file in this district, the debtor must ______________.

Accepted Answer

A)  have proof of employment in this current district. 
B)  reside in this district for at least thirty days. 
C)  confirm where he has resided during the last six months. 
D)  seek permission from the court to file in this district if he has resided here less than two years. 
A)  have proof of employment in this current district. 
B)  reside in this district for at least thirty days. 
C)  confirm where he has resided during the last six months. 
D)  seek permission from the court to file in this district if he has resided here less than two years.

Question 9

How could a pending divorce case affect bankruptcy?

Accepted Answer

The answer of How could a pending divorce case affect...

Question 10

A non-filing spouse's income is excluded from the Means Test?

Accepted Answer

A) True 
 B)False

Question 11

If a debtor received a discharge in a Chapter 7 bankruptcy on October 10, 2012, the debtor can refile for bankruptcy on:

Accepted Answer

A)  October 11, 2018. 
B)  October 11, 2019. 
C)  October 11, 2020. 
D)  The debtor cannot refile for bankruptcy if a prior discharge was received. 
A)  October 11, 2018. 
B)  October 11, 2019. 
C)  October 11, 2020. 
D)  The debtor cannot refile for bankruptcy if a prior discharge was received.

Question 12

Dennis the debtor has been residing in Florida for five months. He relocated to Florida because of a job offer. Prior to that, he resided in Tennessee for thirty-six years. To file for bankruptcy in Florida, Dennis the debtor must:

Accepted Answer

A)  Own a home in Florida. 
B)  Have resided in Florida at least 730 days. 
C)  Dennis the debtor can file for bankruptcy in Florida because has lived a majority of the last six months in Florida. 
D)  None of the above. 
A)  Own a home in Florida. 
B)  Have resided in Florida at least 730 days. 
C)  Dennis the debtor can file for bankruptcy in Florida because has lived a majority of the last six months in Florida. 
D)  None of the above.

Question 13

Cary has to file for bankruptcy because she's unemployed but will be moving to Alabama because her husband was offered a higher-paying job. Three months ago, she paid off her car that is worth approximately $11,000. To protect the non-exempt equity in her vehicle, Cary should _____________.

Accepted Answer

A)  transfer the vehicle to her husband. 
B)  wait two years to file to comply with the 730-day test. 
C)  wait six months to file to comply with domicile requirements. 
D)  research which state offers more favorable exemptions and file based on the 730-day test. 
A)  transfer the vehicle to her husband. 
B)  wait two years to file to comply with the 730-day test. 
C)  wait six months to file to comply with domicile requirements. 
D)  research which state offers more favorable exemptions and file based on the 730-day test.

Question 14

What is the difference between a non-filing spouse's income and a domestic partner's income for Schedule I and the Means Test?

Accepted Answer

The answer of What is the difference between a non-filing...

Question 15

What is a DSO?

Accepted Answer

DSO is short for dom

Question 16

What is the 730-day test?

Accepted Answer

The 730-day test determines wh

Question 17

If the debtor's wages are going to be garnished due to a child support obligation, the debtor should file for bankruptcy to take advantage of the protections of the automatic stay.

Accepted Answer

A)  True. 
B)  False. 
C)  Depends if the debtor is filing for Chapter 7 or Chapter 13. 
D)  Wages cannot be garnished because of child support obligations. 
A)  True. 
B)  False. 
C)  Depends if the debtor is filing for Chapter 7 or Chapter 13. 
D)  Wages cannot be garnished because of child support obligations.

Question 18

Describe the difference between residency and domicile. Give an example.

Accepted Answer

The answer of Describe the difference between residency and domicile....

Question 19

A debtor's residency and domicile are the same for purposes of bankruptcy?

Accepted Answer

A)  True 
B)  False 
C)  Residency is only applicable in Chapter 13 cases. 
D)  Domicile is only applicable in Chapter 7 cases. 
A)  True 
B)  False 
C)  Residency is only applicable in Chapter 13 cases. 
D)  Domicile is only applicable in Chapter 7 cases.

Question 20

Less than three months ago, the debtor used his credit card to pay off his utility bills since his electricity and water were about to be shut off. The total amount was $579.89 since he was several months behind. This will result in ___________.

Accepted Answer

A)  the bankruptcy being denied because of fraud under §523. 
B)  a 2004 examination. 
C)  mostly likely nothing under §523 because utility bills are necessities, not luxury items. 
D)  none of the above. 
A)  the bankruptcy being denied because of fraud under §523. 
B)  a 2004 examination. 
C)  mostly likely nothing under §523 because utility bills are necessities, not luxury items. 
D)  none of the above.

Exam 5: The Bankruptcy Intake

How does a separation affect bankruptcy?

Debra had previously received a discharge in a Chapter 13 case. When can she file Chapter 13 again?

Since John can't afford to pay child support or alimony due to his other financial obligations, he should proceed to file bankruptcy and eliminate the arrears and obligations.

If a debtor's Chapter 7 bankruptcy was dismissed, the debtor can refile for Chapter 7:

What is the difference between the 180 and 730 day rule?

How many times can a debtor file for Chapter 7 bankruptcy?

To confirm if the debtor can file in this district, the debtor must ______________.

How could a pending divorce case affect bankruptcy?

A non-filing spouse's income is excluded from the Means Test?

If a debtor received a discharge in a Chapter 7 bankruptcy on October 10, 2012, the debtor can refile for bankruptcy on:

Dennis the debtor has been residing in Florida for five months. He relocated to Florida because of a job offer. Prior to that, he resided in Tennessee for thirty-six years. To file for bankruptcy in Florida, Dennis the debtor must:

Cary has to file for bankruptcy because she's unemployed but will be moving to Alabama because her husband was offered a higher-paying job. Three months ago, she paid off her car that is worth approximately $11,000. To protect the non-exempt equity in her vehicle, Cary should _____________.

What is the difference between a non-filing spouse's income and a domestic partner's income for Schedule I and the Means Test?

What is a DSO?

What is the 730-day test?

If the debtor's wages are going to be garnished due to a child support obligation, the debtor should file for bankruptcy to take advantage of the protections of the automatic stay.

Describe the difference between residency and domicile. Give an example.

A debtor's residency and domicile are the same for purposes of bankruptcy?

Less than three months ago, the debtor used his credit card to pay off his utility bills since his electricity and water were about to be shut off. The total amount was $579.89 since he was several months behind. This will result in ___________.

The History of Bankruptcy Law

Overview of the Bankruptcy Code

Summary of Chapter 7 Versus Chapter 13

The Court System and the Bankruptcy Rules and Procedure

Bankruptcy Intake Continued

Bankruptcy Intake: Employment, Income, and Expenses

Liabilities, and Required Documents

The Bankruptcy Petition

Assets and Liabilities

Schedules AB: Personal Property and C: Exemptions

Schedules of Secured and Unsecured Creditors

Schedule I: Income

Schedule J: Expenses

Statement of Financial Affairs

Understanding Legal Options and Judgments in Debt Cases

Statement of Current Monthly Income

Means Testing Official Form 122A-2

Bankruptcy and Debt: Understanding Hardship Discharge, Lien Stripping, and Cramdowns

Filing a Bankruptcy Petition

Post-Petition Filing

The 341 Meeting of Creditors

Filters