Under which process might you not have to pay off all your debts in full?(1 point)

Question

Responses

Chapter 7 bankruptcy
Chapter 7 bankruptcy

Chapter 13 bankruptcy
Chapter 13 bankruptcy

both Chapter 7 and Chapter 13 bankruptcy
both Chapter 7 and Chapter 13 bankruptcy

neither Chapter 7 nor Chapter 13 bankruptcy

Answer 1

The correct response is: both Chapter 7 and Chapter 13 bankruptcy.

In Chapter 7 bankruptcy, many unsecured debts may be discharged without requiring full repayment. In Chapter 13 bankruptcy, you might only be required to pay back a portion of your debts over a specified repayment plan.