Question 1

What is the difference between a default judgment and a deficiency judgment?

Accepted Answer

A default judgment means the Respondent did not file an answer or response in a lawsuit. A deficiency judgment is after a creditor has repossessed property that was secured by a loan, and after selling that asset, the proceeds received were not enough to pay off the original debt balance. Therefore, the debtor would still owe the difference as an unsecured debt.

Question 2

The ride-through option was _____________.

Accepted Answer

A)  created by case law. 
B)  legislation passed by Congress post BAPCPA. 
C)  available in the ninth circuit until 2019. 
D)  none of the above. 
A)  created by case law. 
B)  legislation passed by Congress post BAPCPA. 
C)  available in the ninth circuit until 2019. 
D)  none of the above. A

Question 3

The Statement of Intention only applies to leases.

Accepted Answer

A) True 
 B)False  False

Question 4

If the debtor is keeping a secured debt, the debtor can decide to __________.

Accepted Answer

A)  redeem. 
B)  reaffirm. 
C)  retain. 
D)  all of the above. 
A)  redeem. 
B)  reaffirm. 
C)  retain. 
D)  all of the above.

Question 5

Describe the ride-through option.

Accepted Answer

The answer of Describe the ride-through option....

Question 6

The ride-through option exists only in community property states.

Accepted Answer

A) True 
 B)False

Question 7

What are the three r's?

Accepted Answer

When a debtor is keeping secur

Question 8

Because there's no ownership interest with an executory contract, the Statement of Intention is inapplicable.

Accepted Answer

A) True 
 B)False

What is the difference between a default judgment and a deficiency judgment?

The ride-through option was _____________.

The Statement of Intention only applies to leases.

If the debtor is keeping a secured debt, the debtor can decide to __________.

Describe the ride-through option.

The ride-through option exists only in community property states.

What are the three r's?

Because there's no ownership interest with an executory contract, the Statement of Intention is inapplicable.

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

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

Exam 16: Understanding Legal Options and Judgments in Debt Cases

What is the difference between a default judgment and a deficiency judgment?

The ride-through option was _____________.

The Statement of Intention only applies to leases.

If the debtor is keeping a secured debt, the debtor can decide to __________.

Describe the ride-through option.

The ride-through option exists only in community property states.

What are the three r's?

Because there's no ownership interest with an executory contract, the Statement of Intention is inapplicable.

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

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