Author Question: Sherry and Don are having both financial and marital problems. They are considering bankruptcy and ... (Read 28 times)

RODY.ELKHALIL · **on:** Aug 3, 2018

Sherry and Don are having both financial and marital problems. They are considering bankruptcy and divorce as possible solutions. Which of the following is true?

a. Chapter 7 is faster, but they need a high asset/debt ratio to pass the means test.
b. Chapter 14 is faster, but they need a high asset/debt ratio to pass the means test.
c. Chapter 7 is faster, but they need a high debt/asset ratio to pass the means test.
d. Chapter 14 is faster, but they need a high debt/asset ratio to pass the means test.

Question 2

If a client's ex-spouse has filed for bankruptcy, it may be necessary to file an adversary proceeding complaint to collect:

a. Child support.
b. Property that was awarded but not yet transferred.
c. Alimony arrearages.
d. Family support obligations.