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Author Question: Chapter 13 debtors must submit a plan indicating how they intend to pay the creditors over a(n) ... (Read 57 times)

RYAN BANYAN

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on: Aug 2, 2018
Chapter 13 debtors must submit a plan indicating how they intend to pay the creditors over a(n) ________ year period.
 
  Fill in the blank(s) with correct word

Question 2

Discuss the advantages and disadvantages of filing a Chapter 13 bankruptcy.
 
  What will be an ideal response?


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nital

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Reply #1 on: Aug 2, 2018
Answer to Question 1

three to five year period

Answer to Question 2

Student should discuss the Automatic Stay, the debtor's ability to keep his or her assets, cramdown, lien stripping, and a quicker credit score recovery as some of the advantages and differences from filing Chapter 7. Student should discuss long-term commitment, low success rate, and coming up with a repayment plan as disadvantages and as contrasting factors to Chapter 7 cases.


RYAN BANYAN

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Reply #2 on: Aug 2, 2018
Both answers were spot on, thank you once again


nital

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Reply #3 on: Aug 2, 2018
Great! Please up vote :D


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