Asked by Beatrice Sarah Jacob on Jul 29, 2024
Verified
If a party completes a Chapter 7 bankruptcy,the party is not permitted to seek a Chapter 7 bankruptcy again for three years.
Chapter 7 Bankruptcy
A process under federal law designed to eliminate unsecured debts and liquidate non-exempt assets to pay creditors.
Chapter 7
This typically refers to a chapter of the U.S. Bankruptcy Code dealing with liquidation, where a debtor's assets are sold to pay off creditors.
- Describe the influence of bankruptcy proceedings on secured dealings.
Verified Answer
NF
Natasha FloresAug 01, 2024
Final Answer :
False
Explanation :
If a party completes a Chapter 7 bankruptcy,the party is not permitted to seek a Chapter 7 bankruptcy again for eight years.
Learning Objectives
- Describe the influence of bankruptcy proceedings on secured dealings.