Exam 12: Schedules of Secured and Unsecured Creditors

A husband and wife have just been served with a lawsuit. The creditor is a collection agency for student loans. The parents had co-signed on a loan for their daughter, and she was always making timely payments, but once she got married, she left the country to live with her husband and stopped making payments. Does the husband and wife still have to pay the debt?

Because the debtor's child support is withdrawn from his paystub, the expense is listed in ___________.

Due to a divorce, the client can no longer afford to keep the house. Since the client is surrendering the house, the client should list the spouse as a co-debtor.

If there is no intent to discharge student loans, then the debt doesn't have to be listed in the schedules.

Even though the debtor's IRS debt is non-dischargeable, it should still be listed in Schedule E

Bankruptcy trustees on occasion randomly audit cases.

Which of the following individuals are responsible for debts that are discharged by a debtor in bankruptcy:

If a collection agency sues the debtor, the lawsuit's information is listed in the Statement of Financial Affairs, and the debt is listed in Schedule F

A credit card is listed in Schedule ___ of the bankruptcy petition.

In reviewing the Bankruptcy Intake, your client lists debts with a hospital, but has no further information provided. The debt is not listed in the client's credit report either, and when you call the client for statements and/or collection letters, the client states he has none. What can be done to obtain this information?

"Judgment Pursuers, Inc." has a judgment in their favor in excess of $35,000. The creditor's attorney was able to freeze the client's savings account that had an approximate balance of $1,200. Where is this information listed in the petition?

What is listed on Schedule G? Give two examples.

Because the debtor started working recently at a new company, he still doesn't have pension benefits. Therefore, with each paycheck, the debtor mails a check to the fund. This deduction is listed in _______.