Asked by Jennifer Robert on Jul 26, 2024
Verified
A Chapter 13 petition must include a repayment plan,but priority debtors can be paid at a discount,with different rates and times.
Priority Debtors
Creditors that are given precedence over other creditors for repayment in the event of a debtor's bankruptcy or liquidation.
Repayment Plan
A strategy agreed upon between a creditor and a debtor to pay back an outstanding debt within a specified timeline.
- Identify the eligibility criteria for different types of bankruptcy filings.
Verified Answer
AC
Alonzo ClaybrookJul 29, 2024
Final Answer :
False
Explanation :
Priority debts in a Chapter 13 bankruptcy must be paid in full through the repayment plan; they cannot be paid at a discount or treated differently in terms of the amount owed.
Learning Objectives
- Identify the eligibility criteria for different types of bankruptcy filings.
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