Question

A couple has two children. They live in Missouri and have a combined annual income of $96,730. The couple has a mortgage, a car loan, student loans, and credit card debt. When one of them loses employment, their monthly income is reduced by $2,100. If they felt the need to file for bankruptcy, which of the following statements is true?

Answer 1

I'm going to guess, but i would say the best answer would be B. They could file for Chapter 7 bankruptcy and discharge most of their debt.