In 1978,Chapters 11 and 13 of the Bankruptcy Code were created,which:

A) made it easier for creditors to obtain bankruptcy relief.
B) allowed businesses and individuals to reorganize and keep going.
C) made it more difficult to declare bankruptcy.
D) allowed creditors to keep all of the debtor's assets.

Bankruptcy Code

The body of federal laws and statutes governing the process of bankruptcy in the United States, which allows individuals or entities facing financial distress to relieve their debts.

Creditors

Individuals or entities to whom money is owed by debtors.

Reorganize

The process of restructuring a company's business or financial affairs, often to recover from financial distress.