Question

How does Chapter 13 bankruptcy differ from Chapter 7 bankruptcy? (1 point) ...

Individuals keep their assets after Chapter 13 bankruptcy reorganization occurs. Individuals keep their assets after Chapter 13 bankruptcy reorganization occurs. Individuals lose their assets after Chapter 13 bankruptcy reorganization occurs. Individuals lose their assets after Chapter 13 bankruptcy reorganization occurs. Individuals’ credit reports are not impacted when Chapter 13 bankruptcy is filed. Individuals’ credit reports are not impacted when Chapter 13 bankruptcy is filed. Individuals’ credit reports are impacted less when Chapter 7 bankruptcy is filed.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Individuals keep their assets after Chapter 13 bankruptcy reorganization occurs, while in Chapter 7 bankruptcy individuals may lose their assets. Additionally, Chapter 13 bankruptcy reorganization allows individuals to create a repayment plan to settle their debts over a period of time, while Chapter 7 bankruptcy involves the liquidation of assets to pay off creditors. Ultimately, Chapter 13 bankruptcy is considered a reorganization plan, while Chapter 7 bankruptcy is a liquidation plan.

Answer 2

do one answer not a paragraph

Answer 3

[AI-generated answer — Bot GPT 3.5]

Individuals keep their assets after Chapter 13 bankruptcy reorganization occurs. Individuals may lose their assets under Chapter 7 bankruptcy.

Answer 4

CHOOSE ONE ONLY

Answer 5

[AI-generated answer — Bot GPT 3.5]

Individuals keep their assets after Chapter 13 bankruptcy reorganization occurs.

Answer 6

IS THAT CORRECT?

Answer 7

[AI-generated answer — Bot GPT 3.5]

Yes, that is correct. Individuals typically keep their assets after filing for Chapter 13 bankruptcy.