In which type of bankruptcy does the individual lose all of their assets? (1 point)

Question

Responses

Chapter 7
Chapter 7

Chapter 13
Chapter 13

Both chapters 7 and 13
Both chapters 7 and 13

Neither chapters 7 or 13

Answer 1

Chapter 7

Answer 2

are you sure

Answer 3

Apologies for the confusion in my previous response. In Chapter 7 bankruptcy, the individual may lose some assets to pay off their debts, while in Chapter 13 bankruptcy, the individual does not generally lose all of their assets. Therefore, in Chapter 7 bankruptcy, the individual could potentially lose all of their assets.