Question 1

Once the trustee establishes the amount of non-exempt assets, the amount is non-negotiable.

Accepted Answer

A) True 
 B)False  False

Question 2

Currently, whether 341 Meetings will be held virtually or in person, is the bankruptcy trustee's decision.

Accepted Answer

A) True 
 B)False  True

Question 3

At the 341 Meeting, the debtor discloses a bank account not listed in the schedules. The bank account was closed by the bank and has a negative balance.

Accepted Answer

A)  The debtor should amend the Statement of Financial Affairs disclosing the account. 
B)  The debtor should amend Schedule F to include the bank account. 
C)  By providing bank statements to the trustee, proving the negative balance, the debtor doesn't have to take further actions. 
D)  Answers a and b 
A)  The debtor should amend the Statement of Financial Affairs disclosing the account. 
B)  The debtor should amend Schedule F to include the bank account. 
C)  By providing bank statements to the trustee, proving the negative balance, the debtor doesn't have to take further actions. 
D)  Answers a and b D

Question 4

Describe the steps from beginning to end of a Chapter 13 case.

Accepted Answer

The answer of Describe the steps from beginning to end...

Question 5

Because of the Consumer Bankruptcy Reform Act of 2020, hearings are held telephonically.

Accepted Answer

A) True 
 B)False

Question 6

Name the three major credit reporting bureaus.

Accepted Answer

The answer of Name the three major credit reporting bureaus....

Question 7

Describe the steps from beginning to end of a Chapter 7 case.

Accepted Answer

Chapter 7 bankruptcy is a process that a

Once the trustee establishes the amount of non-exempt assets, the amount is non-negotiable.

Currently, whether 341 Meetings will be held virtually or in person, is the bankruptcy trustee's decision.

At the 341 Meeting, the debtor discloses a bank account not listed in the schedules. The bank account was closed by the bank and has a negative balance.

Describe the steps from beginning to end of a Chapter 13 case.

Because of the Consumer Bankruptcy Reform Act of 2020, hearings are held telephonically.

Name the three major credit reporting bureaus.

Describe the steps from beginning to end of a Chapter 7 case.

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

The Bankruptcy Intake

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

Filters

Exam 22: The 341 Meeting of Creditors

Once the trustee establishes the amount of non-exempt assets, the amount is non-negotiable.

Currently, whether 341 Meetings will be held virtually or in person, is the bankruptcy trustee's decision.

At the 341 Meeting, the debtor discloses a bank account not listed in the schedules. The bank account was closed by the bank and has a negative balance.

Describe the steps from beginning to end of a Chapter 13 case.

Because of the Consumer Bankruptcy Reform Act of 2020, hearings are held telephonically.

Name the three major credit reporting bureaus.

Describe the steps from beginning to end of a Chapter 7 case.

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

The Bankruptcy Intake

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

Filters