Question

Petunia is a debtor. Her employer Quantum Investments, Inc., her ex-husband Rob, her alma mater State University, and Timely Credit Company are her creditors.
For these parties, a petition in bankruptcy for relief through an individual’s repayment plan could be filed by:

a. Petunia only.
b. Petunia, her employer, or her creditors only.
c. Petunia or her creditors only.
d. Petunia’s employer only.

Answer 1

Answer:

a. Petunia only

Explanation:

A petition for relief through an individual's repayment plan is a document filled out asking to pay off a debt by making small individual payments stretched out over a specific period of time, and can only be filled by the debtor and accepted by the creditors. Therefore it can only be filled out by Petunia.