Asked by Nirvir Khosa on May 13, 2024
Verified
Bob has not paid his ex-wife alimony as required under court order.His ex-wife is trying to collect the alimony Bob owes her.Bob files a bankruptcy petition.This automatically stays his ex-wife's collection efforts.
Automatic Stay
Under the Bankruptcy Act, the suspension of all litigation against the debtor and his property, which is triggered by the filing of a bankruptcy petition.
Alimony
Financial support paid by one ex-spouse to another after divorce or separation, as dictated by a court order or agreement.
Bankruptcy Petition
A legal document filed by an individual or business entity declaring their inability to pay outstanding debts, seeking relief through bankruptcy proceedings.
- Understand the sequence and methodology of managing claims and payments within the bankruptcy estate.
Verified Answer
VR
Vanessa Reynoso AguilarMay 17, 2024
Final Answer :
False
Explanation :
Twelve categories of property are exempt under the federal exemptions,which the debtor may elect in lieu of the state exemptions.The federal exemptions include Social Security,disability,alimony,and other benefits reasonably necessary for the support of the debtor or his dependents.
Learning Objectives
- Understand the sequence and methodology of managing claims and payments within the bankruptcy estate.