Which of the following sections of the federal bankruptcy laws deals with consumer debt adjustment plans? a. Chapter 11 b. CRO p

Question

netineya [11]

3 years ago

13

Which of the following sections of the federal bankruptcy laws deals with consumer debt adjustment plans? a. Chapter 11 b. CRO p

rovisions c. Chapter 7 d. Chapter 13

Business

1 answer:

arsen [322] · Answer 1 · 2022-07-09T20:14:26+03:00

Answer:

Chapter 13

Explanation:

Federal bankruptcy law is a set of rules that allows the cancellation of certain debts and also specify time for the repayment of non dis chargeable debts. It contains different section that addresses different bankruptcy cases.

Chapter 13 of the law deals with debt adjustment plans. It allows that some loans be re structured and the principal value of the collateral reduced to the market value. Repayment rate can also be lowered and the period extended over a longer period to allow ease of payment.