(1) Complete the reading assignments. We recommend you read and study all of the required materials prior to beginning the review or final exam.
(2) Complete the related review questions. Each review question offers interactive feedback for all questions. We recommend that you view all feedback, correct and incorrect, to each question. These responses focus on key areas related to the questions and will assist in preparing for the exam.
(3) Complete the exam. Review any incorrect answers.
Lesson and Objectives |
Reading
Assignment |
1. What is bankruptcy? |
Chapter 1 |
The learning objectives for this lesson are to gain an understanding of:
- Types of bankruptcy
- How bankruptcy stops collection efforts
- The bankruptcy trustee
- Changes to the bankruptcy laws
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2. Who can file for bankruptcy |
Chapter 2 |
The learning objectives for this lesson are to gain an understanding of:
- Credit counseling
- How to calculate your income status
- Chapter 7 eligibility requirements
- Chapter 13 eligibility requirements
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3. How Bankruptcy affects your debts |
Chapter 3 |
The learning objectives for this lesson are to gain an understanding of:
- Debts that will be discharged in bankruptcy
- Debts that survive Chapter 7 bankruptcy
- Debts that survive Chapter 13 bankruptcy
- Debts discharged only under Chapter 13
- How joint debts are handled
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4. Your property and bankruptcy |
Chapter 4 |
The learning objectives for this lesson are to gain an understanding of:
- Your bankruptcy estate
- How to inventory your property
- How to value your property
- Exemptions
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5.Your home |
Chapter 5 |
The learning objectives for this lesson are to gain an understanding of:
- Homeowners filing for bankruptcy under Chapter 7
- Homeowners filing for bankruptcy under Chapter 13
- Renters filing for bankruptcy
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6. What happens to property that secures a loan |
Chapter 6 |
The learning objectives for this lesson are to gain an understanding of:
- What are secured debts
- How secured debts are handled in Chapter 7 bankruptcy
- Eliminating liens in Chapter 7 bankruptcy
- How secured debts are handled in Chapter 13 bankruptcy
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7. You credit cards |
Chapter 7 |
The learning objectives for this lesson are to gain an understanding of how bankruptcy can affect your credit cards:
- If your balance is zero
- If you owe money but are current
- If you are in default
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8. You job, freedom, and self-respect |
Chapter 8 |
The learning objectives for this lesson are to gain an understanding of the potential effects of filing for bankruptcy:
- Will you lose your self-respect?
- Will you lose you job?
- Effect of bankruptcy on job applicants
- Other forms of discrimination because of bankruptcy
- Effect of bankruptcy on child custody
- Effect of bankruptcy on your freedoms
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9. Bankruptcy forms and procedures |
Chapter 9 |
The learning objectives for this lesson are to gain an understanding of:
- The means test
- Challenges for abuse
- Valuation hearings
- Common Chapter 7 motions and proceedings
- Conversions from one chapter to another
- Potential problems in chapter 13
- Filling out the bankruptcy forms
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10. Getting help with your bankruptcy |
Chapter 10 |
The learning objectives for this lesson are to gain an understanding of:
- Debt relief agencies
- Bankruptcy lawyers
- Bankruptcy petition preparers
- Books and Internet resources
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11. Alternatives to bankruptcy |
Chapter 11 |
The learning objectives for this lesson are to gain an understanding of several alternatives:
- Do nothing
- Negotiate with your creditors
- Get outside help to design a repayment plan
- File for Chapter 11 bankruptcy
- File for Chapter 12 bankruptcy
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