Question: Case 2 2 . 3 is In re Chamberlain. In that case a married couple went through a divorce. The divorce agreement stated the husband

Case 22.3 is In re Chamberlain. In that case a married couple went through a divorce. The divorce agreement stated the husband would contribute towards the children's college education. When the former husband went through bankruptcy, he attempted to have the obligation to provide college support to his children discharged. Did he win his case? _____(Yes / No, the court ruled the obligation was a domestic support order and could not be discharged in bankruptcy)
Case Example 22.7 discusses a situation in which a woman had a loan requiring 48 payments. After she made 13 payments she missed a payment and filed for bankruptcy that same month. She then made a payment shortly after filing for bankruptcy and after that she signed a reaffirmation agreement with the bank to pay off the loan. She believed the payment she had missed before filing bankruptcy had been discharged in bankruptcy. Was it?_____(Yes, the court ruled a reaffirmation agreement is not binding until approved by the bankruptcy court / No, the reaffirmation agreement she signed restored the original agreement)
Case 22.2- In re Dykes - involved a married couple who were both surgeons. They lived in a $3 million home and lived a very luxurious lifestyle. They filed for bankruptcy and were upset when their attempt to be granted a bankruptcy discharge was denied on grounds they had not provided sufficient documentation of their assets that had been allegedly lost or given to their children. Did the appellate court rule the denial of bankruptcy was proper? _____(Yes, the appellate court agreed with the bankruptcy court / No, the appellate court ruled the trustee and bankruptcy judge abused their power by denying the bankruptcy discharge to this couple)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!