FiCEP - Financial Counseling Certification Program Practice Test
FiCEP Bankruptcy and Insolvency
Under Chapter 7 bankruptcy, what happens to a debtor's non-exempt assets?
Select your answer
A
They are protected and returned to the debtor after discharge
B
They are sold by a trustee and the proceeds are distributed to creditors
C
They are transferred to the debtor's spouse
D
They are frozen for five years until the court reviews the case
Hint
