Preview Questions Bankruptcy Lawyer | Role Specific Skill

Question 1: What is the significance of the "fresh start" principle in bankruptcy law, and how should a Bankruptcy Lawyer interpret it in cases of partial discharge?

Which action should you take?

Choose only one option

It allows the debtor to discharge certain debts and move forward financially, but partial discharge may still leave some debts non-dischargeable

It guarantees that all debts will be fully discharged regardless of the circumstances

It requires the debtor to pay all debts in full before discharge is granted

It only applies to Chapter 13 cases and not Chapter 7

Question 2: How should a Bankruptcy Lawyer approach objections to discharge filed by a creditor in a Chapter 7 case?

Which action should you take?

Choose only one option

By dismissing the creditor's objection without filing a response

By reviewing the objection, gathering evidence, and filing a response to defend the debtor's right to discharge the debt

By agreeing to modify the discharge terms without challenging the creditor

By ignoring the creditor's objection and proceeding with the discharge

Question 3: In what situations can a Bankruptcy Lawyer challenge a discharge under Section 727?

Which action should you take?

Choose only one option

When the debtor has not made any repayments to creditors

When the debtor requests a discharge for an excessive amount of debt

When the debtor has engaged in fraudulent activities, destroyed records, or failed to cooperate with the trustee

When the debtor is unable to repay the full amount of debt

Question 4: 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 5: What is the role of a Bankruptcy Lawyer in negotiating with a creditor over a disputed debt in a Chapter 7 case?

Which action should you take?

Choose only one option

To allow the creditor to dictate terms and settle the debt without negotiation

To accept the creditor's claim at face value without review

To assess the validity of the creditor's claim, identify any disputes, and attempt to reach a settlement or compromise

To ignore disputes and proceed with a straightforward discharge

Question 6: Under Chapter 7, what happens to the debtor's non-exempt assets?

Which action should you take?

Choose only one option

They are transferred to a creditor-controlled trust

They are returned to the debtor once the bankruptcy is complete

They remain the property of the debtor

They are sold by the trustee to pay off creditors