Question 1

The Milavetz ruling is that:

Accepted Answer

A)  the First Amendment prohibits advertising under a "federal repayment plan." 
B)  the requirements of debt relief agencies under BAPCPA are not a violation of the First Amendment, and bankruptcy attorneys and law firms are debt relief agencies. 
C)  §528(a)(4) violates the First Amendment. 
D)  defines "attorney" under the Code in Section §101(12
A) . 
A)  the First Amendment prohibits advertising under a "federal repayment plan." 
B)  the requirements of debt relief agencies under BAPCPA are not a violation of the First Amendment, and bankruptcy attorneys and law firms are debt relief agencies. 
C)  §528(a)(4) violates the First Amendment. 
D)  defines "attorney" under the Code in Section §101(12
A) . B

Question 2

What are the different Chapters available under the Code for bankruptcy?

Accepted Answer

Chapters 7, 9, 11, 12, 13, and 15.

Question 3

Because oral contracts are valid, an attorney and debtor can agree to the fees, costs, and services to be provided verbally.

Accepted Answer

A) True 
 B)False  False

Question 4

Why should you not answer a potential client's questions over the phone or in person?

Accepted Answer

The answer of Why should you not answer a potential...

Question 5

The Bankruptcy Code is found in _______.

Accepted Answer

A)  Title 7. 
B)  Title 11. 
C)  Title 13. 
D)  Title 21. 
A)  Title 7. 
B)  Title 11. 
C)  Title 13. 
D)  Title 21.

Question 6

A bankruptcy attorney must provide to the client written notice as well as a description of the different chapters available to consumers.

Accepted Answer

A)  True under §527. 
B)  False under §528 
C)  False. There is no such requirement as a consultation with an attorney is sufficient notice since the attorney would need to review the client's options, including whether or not to file for bankruptcy. 
D)  True, under §529, to the extent it's requested by the client. 
A)  True under §527. 
B)  False under §528 
C)  False. There is no such requirement as a consultation with an attorney is sufficient notice since the attorney would need to review the client's options, including whether or not to file for bankruptcy. 
D)  True, under §529, to the extent it's requested by the client.

Question 7

What is a proof of claim?

Accepted Answer

A proof of claim is

Question 8

Student loans are an example of secured debt because the debt is attached to the degree received.

Accepted Answer

A) True 
 B)False

Question 9

What is a domestic support obligation?

Accepted Answer

The answer of What is a domestic support obligation?...

Question 10

Since alimony isn't required in every case, unlike child support, alimony can be discharged in bankruptcy.

Accepted Answer

A) True 
 B)False

Question 11

A debt relief agency is defined in ______ of the Bankruptcy Code.

Accepted Answer

A)  §101 
B)  §152 
C)  §526 
D)  §528 
A)  §101 
B)  §152 
C)  §526 
D)  §528

Question 12

Victor was seriously injured in an accident and may never be able to work again. David was at fault. Victor has proceeded to file a personal injury lawsuit against David. Victor wants to know if David can file for bankruptcy if a judgment is issued against him.

Accepted Answer

The answer of Victor was seriously injured in an accident...

Question 13

Because of Albert's arrest for a DUI crash, he lost his job and his house to foreclosure. Albert qualifies for Chapter 7 because he hasn't earned any income over the last eight months. Albert wants to include all his credit card debt and $5,500 in damages to the vehicle he crashed into. Albert should be advised:

Accepted Answer

A)  That he can include his debt related to the house (deficiency judgment). 
B)  Albert can include his credit card debt. 
C)  All of the above. 
D)  Albert can't include the damages to the vehicle. 
A)  That he can include his debt related to the house (deficiency judgment). 
B)  Albert can include his credit card debt. 
C)  All of the above. 
D)  Albert can't include the damages to the vehicle.

Question 14

A car loan is an example of a voluntary lien, so an involuntary lien cannot be placed on the car.

Accepted Answer

A) True 
 B)False

Question 15

Define a debt relief agency.

Accepted Answer

A debt relief agency is a bankruptcy att

Question 16

What is the significance of the Milavetz ruling?

Accepted Answer

The answer of What is the significance of the Milavetz...

Question 17

The financial management class certificate should be filed within:

Accepted Answer

A)  seven days of the bankruptcy petition being filed. 
B)  Before the 341 Meeting of Creditors is held. 
C)  Up to forty-five days after the discharge has been entered. 
D)  Within sixty days of the first scheduled 341 Meeting of Creditors. 
E)  At least forty-five days before the bankruptcy petition is filed. 
A)  seven days of the bankruptcy petition being filed. 
B)  Before the 341 Meeting of Creditors is held. 
C)  Up to forty-five days after the discharge has been entered. 
D)  Within sixty days of the first scheduled 341 Meeting of Creditors. 
E)  At least forty-five days before the bankruptcy petition is filed.

Question 18

Law firms are debt relief agencies.

Accepted Answer

A) True 
 B)False

Question 19

Who can file for Chapter 11?

Accepted Answer

The answer of Who can file for Chapter 11?...

Question 20

Important definitions under the Code can be found in Section 101.

Accepted Answer

A) True 
 B)False

Exam 2: Overview of the Bankruptcy Code

The Milavetz ruling is that:

What are the different Chapters available under the Code for bankruptcy?

Because oral contracts are valid, an attorney and debtor can agree to the fees, costs, and services to be provided verbally.

Why should you not answer a potential client's questions over the phone or in person?

The Bankruptcy Code is found in _______.

A bankruptcy attorney must provide to the client written notice as well as a description of the different chapters available to consumers.

What is a proof of claim?

Student loans are an example of secured debt because the debt is attached to the degree received.

What is a domestic support obligation?

Since alimony isn't required in every case, unlike child support, alimony can be discharged in bankruptcy.

A debt relief agency is defined in ______ of the Bankruptcy Code.

Victor was seriously injured in an accident and may never be able to work again. David was at fault. Victor has proceeded to file a personal injury lawsuit against David. Victor wants to know if David can file for bankruptcy if a judgment is issued against him.

A car loan is an example of a voluntary lien, so an involuntary lien cannot be placed on the car.

Define a debt relief agency.

What is the significance of the Milavetz ruling?

The financial management class certificate should be filed within:

Law firms are debt relief agencies.

Who can file for Chapter 11?

Important definitions under the Code can be found in Section 101.

The History of Bankruptcy Law

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

The 341 Meeting of Creditors

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