Question

Which of the following, while appearing negative, might actually be considered an advantage of filing bankruptcy?

Answer 1

Answer:

A. Inability to get new credit cards.

Step-by-step explanation:

We need to find the characteristic which even if appears to be negative will be considered as an advantage of filing bankruptcy.

Now, bankruptcy is a legal status of a person or company that is unable to repay debts to creditors.

While filing for bankruptcy, if the reason is given as 'inability to get new credit cards', will act as an advantage to the person.

Since, if he is unable to get credit cards, then it will be difficult for him to obtain the credits on the cards by the banks.

This further will show his inability to repay the debts.

Hence, even if 'inability to get new credit cards' appears negative, it will act as an advantage of filing for bankruptcy.

Answer 2

Which of the following, while appearing negative, might actually be considered an advantage of filing bankruptcy?
a.
inability to get new credit cards
b.
inability to discharge all debt
c.
inability to get a car loan
d.
inability to stop collections by creditors\

The answer is A