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9 Cards in this Set
- Front
- Back
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What is the most common form of bankruptcy? |
Chapter 7 |
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You can't claim bankrupty on ____________. |
Student Loans |
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What does Ch 7 deal with? |
Personal debts, you won't repay them; surrender all assets to repay debts |
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What does Ch 13 bankruptcy deal with? |
Personal debt that is going to be repaid |
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What is Ch. 12 bankruptcy? |
designed specifically for family farmers and fisherman; allows for reorganization or rehabillitation of these individuals |
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What is Ch 11 bankruptcy? |
reorganization of big business |
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What age range do the majority of credit card applications get sent to? |
18-25 |
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Ch 7 bankruptcy will stay on your credit for how many years? |
10 |
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Definiton of bankruptcy |
legal measure to discharge or reorganize debt that is owed |
