Exam 36: Bankruptcy

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Peggy's credit card debts are mounting as her costs of insurance and fuel have dramatically increased and her income,from sporadic freelance jobs,has dropped.Chapter 13 of the Bankruptcy Code will allow her to reorganize her debt while she keeps most of her assets.

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What is the "gap period"?

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What are the three main purposes of the federal Bankruptcy Code? How are these purposes supported and fostered in the Code?

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Link negligently ran his car into John,causing $50,000 in injuries.Link was intoxicated at the time of the accident.Can Link discharge this debt in bankruptcy?

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Chapters 11 and 13 are liquidation chapters.

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