Module 123-125 Review Part 3 Question Preview (ID: 34434)


Module 123-125 Review Part 3. TEACHERS: click here for quick copy question ID numbers.

Stays on your credit report for 10 years
a) bankruptcy
b) litigant
c) debtor
d) discharge

These are the most common types of bankruptcy chapters
a) 7 and 13
b) 11 and 12
c) 3 and 17
d) 19 and 34

Someone who has borrowed money
a) debtor
b) discharge
c) creditor
d) litigant

A debtor files a petition of bankruptcy
a) Voluntary bankruptcy
b) Involuntary bankruptcy
c) Discharge
d) Litigant

A party in a lawsuit
a) Litigant
b) Creditor
c) Debtor
d) Discharge

Action the court takes to wipe out a debtor's debts
a) discharge
b) debtor
c) credit
d) litigant

Has information on how and where to get legal help when filing bankruptcy
a) American Bar Association
b) The Neighborhood Bar
c) The Lawyers League
d) Chapter 7

A creditor files a petition of bankruptcy against a debtor
a) Involuntary bankruptcy
b) Voluntary bankruptcy
c) Debtor
d) Discharge

A lender or company that has lent money or issued credit
a) Creditor
b) Litigant
c) Debtor
d) Bartender

Congress enacted federal bankruptcy laws
a) 1934
b) 1919
c) 1950
d) 1971

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