{"id":34411,"date":"2024-01-17T08:21:31","date_gmt":"2024-01-17T08:21:31","guid":{"rendered":"https:\/\/www.greatassignmenthelp.com\/questions\/?p=34411"},"modified":"2024-01-17T08:21:31","modified_gmt":"2024-01-17T08:21:31","slug":"though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer","status":"publish","type":"post","link":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/","title":{"rendered":"Though it is seen as a last resort, bankruptcy allows a consumer"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\"><strong>Though it is seen as a last resort, bankruptcy allows a consumer<\/strong><\/p>\n<p>A) temporarily stop paying debts.<\/p>\n<p>B) Eliminate certain types of debt.<\/p>\n<p>C) Easily re-establish good credit.<\/p>\n<p>D) Receive credit in an emergency.<\/p>\n<p><strong>Answer:- The correct option is B. Eliminate certain types of debt.<\/strong><\/p>\n<p class=\"western\" lang=\"en-US\">Bankruptcy makes possible the cancellation of certain debts and a new beginning in finances for consumers. At least temporarily, filing for bankruptcy stops that person\u2019s ability to pursue collection activities against the debtor. Chapter 7 and chapter 13 are the most common for consumers among several varieties of bankruptcy filings.<\/p>\n<p class=\"western\" lang=\"en-US\">Chapter 7 bankruptcy, which is often referred to as liquidation bankruptcy because most of the assets are sold off in order to repay creditors. Any remaining debts are often discharged, meaning that the creditors receive no payment at all. However, not all debts can be discharged including student loans, alimony and child support. Chapter 7 bankruptcy is reflected on a person\u2019s credit report for an eleven-year period.<\/p>\n<p class=\"western\" lang=\"en-US\">Chapter thirteen bankruptcy or wage earner\u2019s plan means developing a repayment program to pay off some of the debt over three-five years. The plan of repayment allows the debtor to retain property such as a house or car, while she tries to catch up on outstanding payments. When the repayment is done, all unsecured debts including credit cards are discharged. Chapter 13 bankruptcy stays on a credit report for seven years.<\/p>\n<p class=\"western\" lang=\"en-US\">On one hand, bankruptcy can be a source of liberation as well but on the other it leaves implications like poor credit scores which make gaining loans or credits in future difficult. It therefore is considered to be an option of the last resort when consumers have no other ways through which they can restore financial equilibrium. Elimination of debt via bankruptcy helps consumers restore their credit and financial standing in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Though it is seen as a last resort, bankruptcy allows a consumer A) temporarily stop paying debts. B) Eliminate certain types of debt. C) Easily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Though it is seen as a last resort, bankruptcy allows a consumer<\/title>\n<meta name=\"description\" content=\"Though it is seen as a last resort, bankruptcy allows a consumerA) temporarily stop paying debts.B) Eliminate certain types of debt.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Though it is seen as a last resort, bankruptcy allows a consumer\" \/>\n<meta property=\"og:description\" content=\"Though it is seen as a last resort, bankruptcy allows a consumerA) temporarily stop paying debts.B) Eliminate certain types of debt.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\" \/>\n<meta property=\"og:site_name\" content=\"Questions - Greatassignmenthelp.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Greatassignmenthelpus\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-17T08:21:31+00:00\" \/>\n<meta name=\"author\" content=\"Jay Cooper\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@assignmentgreat\" \/>\n<meta name=\"twitter:site\" content=\"@assignmentgreat\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jay Cooper\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\"},\"author\":{\"name\":\"Jay Cooper\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e\"},\"headline\":\"Though it is seen as a last resort, bankruptcy allows a consumer\",\"datePublished\":\"2024-01-17T08:21:31+00:00\",\"dateModified\":\"2024-01-17T08:21:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\"},\"wordCount\":317,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\",\"name\":\"Though it is seen as a last resort, bankruptcy allows a consumer\",\"isPartOf\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#website\"},\"datePublished\":\"2024-01-17T08:21:31+00:00\",\"dateModified\":\"2024-01-17T08:21:31+00:00\",\"description\":\"Though it is seen as a last resort, bankruptcy allows a consumerA) temporarily stop paying debts.B) Eliminate certain types of debt.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Though it is seen as a last resort, bankruptcy allows a consumer\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#website\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\",\"name\":\"Questions - Greatassignmenthelp.com\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.greatassignmenthelp.com\/questions\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#organization\",\"name\":\"greatassignmenthelp\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png\",\"contentUrl\":\"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png\",\"width\":159,\"height\":52,\"caption\":\"greatassignmenthelp\"},\"image\":{\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Greatassignmenthelpus\",\"https:\/\/x.com\/assignmentgreat\",\"https:\/\/www.pinterest.com\/greatassignment\/\",\"https:\/\/www.linkedin.com\/company\/great-assignment-help\/\",\"https:\/\/www.instagram.com\/greatassignmenthelp\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e\",\"name\":\"Jay Cooper\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g\",\"caption\":\"Jay Cooper\"},\"sameAs\":[\"https:\/\/www.greatassignmenthelp.com\/questions\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Though it is seen as a last resort, bankruptcy allows a consumer","description":"Though it is seen as a last resort, bankruptcy allows a consumerA) temporarily stop paying debts.B) Eliminate certain types of debt.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/","og_locale":"en_US","og_type":"article","og_title":"Though it is seen as a last resort, bankruptcy allows a consumer","og_description":"Though it is seen as a last resort, bankruptcy allows a consumerA) temporarily stop paying debts.B) Eliminate certain types of debt.","og_url":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/","og_site_name":"Questions - Greatassignmenthelp.com","article_publisher":"https:\/\/www.facebook.com\/Greatassignmenthelpus","article_published_time":"2024-01-17T08:21:31+00:00","author":"Jay Cooper","twitter_card":"summary_large_image","twitter_creator":"@assignmentgreat","twitter_site":"@assignmentgreat","twitter_misc":{"Written by":"Jay Cooper","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#article","isPartOf":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/"},"author":{"name":"Jay Cooper","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e"},"headline":"Though it is seen as a last resort, bankruptcy allows a consumer","datePublished":"2024-01-17T08:21:31+00:00","dateModified":"2024-01-17T08:21:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/"},"wordCount":317,"commentCount":0,"publisher":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization"},"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/","url":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/","name":"Though it is seen as a last resort, bankruptcy allows a consumer","isPartOf":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#website"},"datePublished":"2024-01-17T08:21:31+00:00","dateModified":"2024-01-17T08:21:31+00:00","description":"Though it is seen as a last resort, bankruptcy allows a consumerA) temporarily stop paying debts.B) Eliminate certain types of debt.","breadcrumb":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/though-it-is-seen-as-a-last-resort-bankruptcy-allows-a-consumer\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.greatassignmenthelp.com\/questions\/"},{"@type":"ListItem","position":2,"name":"Though it is seen as a last resort, bankruptcy allows a consumer"}]},{"@type":"WebSite","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#website","url":"https:\/\/www.greatassignmenthelp.com\/questions\/","name":"Questions - Greatassignmenthelp.com","description":"","publisher":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.greatassignmenthelp.com\/questions\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#organization","name":"greatassignmenthelp","url":"https:\/\/www.greatassignmenthelp.com\/questions\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/","url":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png","contentUrl":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-content\/uploads\/2022\/06\/logo-footer.png","width":159,"height":52,"caption":"greatassignmenthelp"},"image":{"@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Greatassignmenthelpus","https:\/\/x.com\/assignmentgreat","https:\/\/www.pinterest.com\/greatassignment\/","https:\/\/www.linkedin.com\/company\/great-assignment-help\/","https:\/\/www.instagram.com\/greatassignmenthelp"]},{"@type":"Person","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/3a1b105fd8c3db97e016fb16652b9b3e","name":"Jay Cooper","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.greatassignmenthelp.com\/questions\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/90b1a211fe4bf64a5776d70d26f75d0f?s=96&d=mm&r=g","caption":"Jay Cooper"},"sameAs":["https:\/\/www.greatassignmenthelp.com\/questions"]}]}},"_links":{"self":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/34411"}],"collection":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/comments?post=34411"}],"version-history":[{"count":1,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/34411\/revisions"}],"predecessor-version":[{"id":34412,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/posts\/34411\/revisions\/34412"}],"wp:attachment":[{"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/media?parent=34411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/categories?post=34411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greatassignmenthelp.com\/questions\/wp-json\/wp\/v2\/tags?post=34411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}