In June, Keith loses his job, and he doesn't pay his rent. In July, the landlord...

 

Transcribed Image Text:

In June, Keith loses his job, and he doesn't pay his rent. In July, the landlord starts an unlawful detainer (eviction) action. If Keith files for [Choose ] [Choose] personal bankruptcy, the lawsuit will be discharge subject to and the bearer paper landlord will have to wait for any legal relief. Prior to filing a Ch. 7 bankruptcy, a debtor has to show that his monthly disposable income is limited by applying the Jim currently owes $1 million dollars in both secured and unsecured debt, including amounts owed on six credit cards. He has been notified that he will lose his job at the end of the month. Jim is contemplating filing for bankruptcy relief, but ten (10) days before he expects to file the petition, Jim pays off the debt owed on two of the six credit cards. How will Jim's payments on these two (2) cards be classified in bankruptcy court? When the government properly takes private property for a public purpose, it exercises the power of eminent domain means rule holder in due course debtor in possession condemnation periodic tenancy tenancy for years order paper preference holder tenancy at sufferance automatic stay [Choose] In June, Keith loses his job, and he doesn't pay his rent. In July, the landlord starts an unlawful detainer (eviction) action. If Keith files for [Choose ] [Choose] personal bankruptcy, the lawsuit will be discharge subject to and the bearer paper landlord will have to wait for any legal relief. Prior to filing a Ch. 7 bankruptcy, a debtor has to show that his monthly disposable income is limited by applying the Jim currently owes $1 million dollars in both secured and unsecured debt, including amounts owed on six credit cards. He has been notified that he will lose his job at the end of the month. Jim is contemplating filing for bankruptcy relief, but ten (10) days before he expects to file the petition, Jim pays off the debt owed on two of the six credit cards. How will Jim's payments on these two (2) cards be classified in bankruptcy court? When the government properly takes private property for a public purpose, it exercises the power of eminent domain means rule holder in due course debtor in possession condemnation periodic tenancy tenancy for years order paper preference holder tenancy at sufferance automatic stay [Choose]

Answer rating: 100% (QA)

1If kaith files for personal bankruptcy the lawsuit will be subject to automatic stayan auto... View the full answer