Homework Help Question & Answers

Under Chapter 7, to be entitled to receive a portion of a debtor’s estate, each creditor...

Under Chapter 7, to be entitled to receive a portion of a debtor’s estate, each creditor must file a proof of claim with the bankruptcy court within ninety days of

a.

the creditors’ meeting.

b.

the order for relief.

c.

the petition.

d.

the automatic stay.

0 0
Next > < Previous
ReportAnswer #1

The correct answer for the question is Option A - the Creditors' meeting. Each creditor must file a proof of claim with the bankruptcy court within ninety of the creditors meeting in order for them to get a portion of debtor's estate under Chapter 7 of the Bankruptcy.

Optoin B, Option C and Option D are all incorrect as the the ninety days is calculated from the date of creditors meeting and not the date of order for relief, petition or automatic stay.

Please let me know if you have any questions via comments and all the best :) !

Know the answer?
Add Answer to:
Under Chapter 7, to be entitled to receive a portion of a debtor’s estate, each creditor...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Under Chapter 7, once the proceeds of the bankruptcy estate have been distributed the debtor's remaining...

    Under Chapter 7, once the proceeds of the bankruptcy estate have been distributed the debtor's remaining debts O a. are discharged b. renewed without legal action as obligations of the debtor. O c. paid by the court. O d. subject to legal actions to recover any unpaid amounts.

  • 1. What is the rationale for making the bankruptcy discharge of student loans very difficult? 2....

    1. What is the rationale for making the bankruptcy discharge of student loans very difficult? 2. Petitioner argued that she should be able to use a postdischarge event (the auto accident) as a basis for establishing that she could not maintain a “minimal” standard of living, and thus she should get a retroactive discharge of her student loans. What benefit is there to her if she could successfully make the argument, given that she could—as the court noted—file for Chapter...

  • Question 9 2 pts A bankruptcy petition under chapter 7: can only be filed by the...

    Question 9 2 pts A bankruptcy petition under chapter 7: can only be filed by the debtor. can only be filed by the debtor's creditors. @ can only be filed by the trustee. can be filed either by the debtor or his creditors. Question 10 2 pts Under the Bankruptcy Act's exemption provisions the debtor must choose either the state or the federal exemption scheme. the full value of one's motor vehkle is exempt federal chemptions de cat state exemptions...

  • 1.All but which of the following is true of credit reporting protections provided to consumers under...

    1.All but which of the following is true of credit reporting protections provided to consumers under the federal Fair Credit Reporting Act (FCRA)? You can sue for damages if your rights under the act have been violated. Lenders are required to provide a consumer’s credit score as well as any factors that affected that score if the lender took any adverse action based on that score. You must provide written consent before a CRA can provide information to your employer...

  • Anheuser-Busch in the Czech Republic In this activity, we will review a dispute between Anheuser-Busch and the Czech st...

    Anheuser-Busch in the Czech Republic In this activity, we will review a dispute between Anheuser-Busch and the Czech state-owned brewery Budejovicky Budvar over the use of the name Budweiser and its derivations. It is premised on the role that trademarks can play within an international marketing scenario. Here we focus on the importance of intellectual property. It contrasts the common law trademark prior use verses the code law registration issue. Businesses face a multitude of problems in their efforts to...

  • Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...

    Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...

  • Could someone please check what work I do have and answer the ones I dont have Thank you to the ones I have Answered The letter is next to the question #1-19 BUS—Business Law 1

    Could someone please check what work I do have and answer the ones I dont have Thank you to the ones I have Answered The letter is next to the question #1-19BUS—Business Law 1. Which of the following statements is true? B a. In the criminal law system, one private citizen may sue another and recover damages for the crime committed against him.b. Sometimes, the same behavior can violate both the civil law and the criminal law.c. All laws are...

  • Case Study Analysis: Fred Stern & Company, Inc. (Knapp): In the business world of the Roaring...

    Case Study Analysis: Fred Stern & Company, Inc. (Knapp): In the business world of the Roaring Twenties, the schemes and scams of flimflam artists and confidence men were legendary. The absence of a strong regulatory system at the federal level to police the securities markets—the Securities and Exchange Commission was not established until 1934—aided, if not encouraged, financial frauds of all types. In all likelihood, the majority of individuals involved in business during the 1920s were scrupulously honest. Nevertheless, the...

  • Case: Enron: Questionable Accounting Leads to Collapse Introduction Once upon a time, there was a gleaming...

    Case: Enron: Questionable Accounting Leads to Collapse Introduction Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant “E,” slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm laid...

  • CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a...

    CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.