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Ivanshal [37]
3 years ago
7

Describe the personal assets that are protected under Chapter 13. Describe the basic eligibility requirements for filing under C

hapter 13.\
Business
1 answer:
aleksandrvk [35]3 years ago
5 0

Both the state and the federal law define the exempt (protected) assets of chapter 13, so they may change from one state to another, but the following are the most basic ones, they are regulated by federal law, and considered common in all the 50 states:

<span>- </span>Family homes (homestead)

<span>- </span>Cars

<span>- </span>Household items

<span>- </span>Household furniture

- Personal items like clothes and jewelry

The main condition to be eligible for chapter 13 is demonstrate to the court that you have enough income after subtract basic allowed expenses and obligatory payments on secured debts. The main idea behind chapter 13 is the reorganization of your assets and create a repayment plan to pay back your debts usually over a period of 3 to 5 years. Another condition is that your debt cannot exceed $1’184.200 and you must be current in your income taxes.

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it depends on the business

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In 1970 Professor Fellswoop earned $12,000; in 1980 he earned $24,000; and in 1990 he earned $36,000. If the CPI was 40 in 1970,
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Answer:

In 1980

Explanation:

Year        Salary        Percentage Salary Increase        CPI Increase

1970       $12,000     -                                                      -

1980       $24,000    100                                                 50

1990       $36,000    50                                                   83.3

As can be seen in the table, the Professor's salary increase from 1970 to 1980 was twice as much as the CPI increase during the same period.

On the contrary, his salary increase from 1980 to 1990 was significantly less than the CPI increase during the same period.

Therefore, the professor's salary was highest in 1980.

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One thing is certain, the quantity demanded and supplied increased, so the total quantity sold definitely increased. The price issue is not certain because you would need additional information about which shift was larger, the shift of the supply curve or the demand curve.

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