Preview Questions Bankruptcy Lawyer | Role Specific Skill

Question 1: How should a Bankruptcy Lawyer address issues involving the automatic stay under Chapter 7 and Chapter 11?

Which action should you take?

Choose only one option

By assuming the stay applies automatically in all circumstances without exceptions

By immediately lifting the stay upon request from creditors

By analyzing whether the debtor is eligible for relief under the automatic stay and seeking relief from stay motions when appropriate

By ignoring stay violations unless they directly affect the debtor's case

Question 2: What should a Bankruptcy Lawyer do if a debtor requests to discharge debts incurred through gambling losses?

Which action should you take?

Choose only one option

Discharge gambling debts without investigating the circumstances

Automatically deny the discharge, as gambling debts are non-dischargeable

Allow the debtor to discharge all gambling debts without challenge

Evaluate whether the debts were incurred through fraudulent means and file an adversary proceeding if necessary

Question 3: How do you address issues related to post-petition financing in Chapter 11, particularly when the debtor requires new financing to continue operations?

Which action should you take?

Choose only one option

By focusing on pre-petition debts and ignoring the need for new financing

By relying on the debtor to secure financing independently without court oversight

By assuming all post-petition financing is acceptable and proceeding without review

By negotiating favorable financing terms, ensuring the financing is in the best interest of the estate, and obtaining court approval

Question 4: What should a Bankruptcy Lawyer do when a creditor challenges the discharge of their debt in a Chapter 7 bankruptcy case?

Which action should you take?

Choose only one option

Ignore the challenge if it is raised after the filing date

Accept the creditor's challenge and assume the debt will not be discharged

Allow the debtor to settle the dispute with the creditor outside of court

Investigate the grounds for the challenge, such as fraud, and respond to the objection with supporting evidence

Question 5: What should a Bankruptcy Lawyer do when a creditor files an objection to a debtor's proposed plan in a Chapter 13 case?

Which action should you take?

Choose only one option

Review the creditor's objections, assess their validity, and file a response or negotiate a resolution to facilitate the plan's approval

Reject the entire plan without reviewing the creditor's objections

Allow the debtor to modify the plan without addressing the creditor's objections

Ignore the objections and proceed with the plan as proposed by the debtor

Question 6: What steps do you take when a creditor claims a debt is non-dischargeable but the debtor disputes it under Chapter 13?

Which action should you take?

Choose only one option

By ignoring the dispute and proceeding with the repayment plan.

By filing an adversary proceeding to challenge the dischargeability under the specific bankruptcy law provisions.

By accepting the debtor's claim without contesting it.

By withdrawing the creditor's claim from the bankruptcy process.