The Chapter 7 Filing Self-Quiz
MoCo has filed for bankruptcy
protection by submitting its petition in bankruptcy to the court. However,
one of its creditors continues to harass the company about suing the firm
and sending collection agents to collect its security. If the lender engaged
in such an act it would be:
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Jimmy has been forced into
bankruptcy by his creditors. Such a bankruptcy is apt to be:
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Toby is the trustee in bankruptcy
of NoMoCo. Which of the following tasks is he allowed to do in his attempts
to satisfy creditors:
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Doris, the trustee in bankruptcy
of GoneFishin’, Inc. has begun paying off creditors from the bankruptcy
property. One creditor in particular has been troublesome and annoying
to the other creditors. As such, Doris decides to pay off that creditor
first to insure that the rest of the process goes smoothly. Such an action
by Doris would be:
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At the meeting between the
creditors and the trustee, which of the following items will occur?
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Steve has filed for bankruptcy
protection under Chapter 7. However, in making his filing, he failed to
include one of the debts he owed to his former employer. Because the employer
no longer had any regular contact with Steve, he was unaware of the filing
and failed to give proof of claim to the trustee. Because of this:
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