true or false Bankruptcy relief is provided under state, not federal, law....
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true or false Bankruptcy relief is provided under state, not federal, law. In a Chapter 7 proceeding, at a meeting of creditors, one of the creditors is elected to take over the debtor's assets. If all classes of creditors apparently accept the debtor's Chapter 11 plan, the court cannot refuse to confirm it. Involuntary petitions may be filed to initiate Chapter 7, Chapter 11, and Chapter 13, bankruptcies. Under Chapter 13, a plan may provide for the payment of all of the debtor's obligations in full.
true or false
Bankruptcy relief is provided under state, not federal, law.
In a Chapter 7 proceeding, at a meeting of creditors, one of the creditors is elected to take over the debtor's assets.
If all classes of creditors apparently accept the debtor's Chapter 11 plan, the court cannot refuse to confirm it.
Involuntary petitions may be filed to initiate Chapter 7, Chapter 11, and Chapter 13, bankruptcies.
Under Chapter 13, a plan may provide for the payment of all of the debtor's obligations in full.
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