Bankruptcy Law Quiz

The debtor has no options and will be liable for the deficiency.

The debtor can sue the court for deficiency regardless of the reaffirmation agreement status.

The debtor can request a new reaffirmation agreement with different terms.

The debtor can 'ride through' the bankruptcy if all requirements under § 521 and 362(h) are timely complied with. (correct)

The debtor failed to submit the reaffirmation agreement in a timely manner.

The debtor's income would be a negative amount after deducting the car payment and other monthly expenses. (correct)

The court found the car to be overvalued and not worth reaffirming.

The debtor did not have a valid security interest in the Nissan.

Forgive the remaining car loan amount.

Repossess the car. (correct)

Extend the loan term for the car.

Lower the interest rate on the car loan.

<p>Courts said 'ride through' is not available anymore after 2005.</p> Signup and view all the answers