Chapter 7

Chapter 11

Chapter 12

Chapter 13

To liquidate assets and distribute proceeds to creditors

To reorganize debts and continue operating

To discharge debts and start over

To sell assets and pay off debts

Secured creditors have a lien on the debtor's property, while unsecured creditors do not.

Secured creditors are paid first in a bankruptcy proceeding, while unsecured creditors are paid last.

Secured creditors are more likely to be paid in full than unsecured creditors.

All of the above.

A court order that reduces the amount of debt owed to a secured creditor

A court order that forces a debtor to sell their assets

A court order that discharges a debtor's debts

A court order that allows a debtor to continue operating their business

A judgment that is entered against a debtor for the amount of debt that remains after the sale of the collateral

A judgment that is entered against a debtor for the amount of debt that is discharged in bankruptcy

A judgment that is entered against a debtor for the amount of debt that is owed to unsecured creditors

A judgment that is entered against a debtor for the amount of debt that is owed to secured creditors

It releases the debtor from all debts

It releases the debtor from all debts except for certain types of debts, such as student loans and child support

It releases the debtor from all debts except for debts that are secured by collateral

It releases the debtor from all debts except for debts that are owed to the government

Chapter 7 bankruptcy is a liquidation bankruptcy, while Chapter 13 bankruptcy is a reorganization bankruptcy.

Chapter 7 bankruptcy is available to individuals and businesses, while Chapter 13 bankruptcy is only available to individuals.

Chapter 7 bankruptcy allows the debtor to keep their assets, while Chapter 13 bankruptcy requires the debtor to sell their assets.

Chapter 7 bankruptcy is more expensive than Chapter 13 bankruptcy.

The debtor must have a regular income

The debtor must have a certain amount of debt

The debtor must have filed for bankruptcy in the past

The debtor must be unable to pay their debts

The debtor must have a regular income

The debtor must have a certain amount of debt

The debtor must have filed for bankruptcy in the past

The debtor must be unable to pay their debts

The debtor's credit score will be damaged

The debtor may lose their job

The debtor may be evicted from their home

All of the above

Create a budget and stick to it

Pay your bills on time

Avoid taking on too much debt

All of the above

To oversee the bankruptcy process

To approve the debtor's bankruptcy plan

To discharge the debtor's debts

All of the above

To collect the debtor's assets

To sell the debtor's assets

To distribute the proceeds of the sale of the debtor's assets to creditors

All of the above

To file a proof of claim

To vote on the debtor's bankruptcy plan

To receive payments from the bankruptcy estate

All of the above

The creditor's claim is extinguished

The creditor's claim is reduced

The creditor's claim is suspended

The creditor's claim is unaffected