For this assignment, you were to respond to the questions regarding bankruptcy. I was looking for...

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For this assignment, you were to respond to the questions regarding bankruptcy. I was looking for you to explain the difference between the different bankruptcies explanation as to why are these differences important. I was also looking for you to use the library, internet, or other available resource to support the ideas in your response. Overall, you did a good job responding to the assignment, although I would have liked to have seen a bit more depth of detail in the analysis regarding the difference between intentional torts and negligence, and why the differences are important. Remember I am looking for students to always cite references in the text of the response to support the key concepts in your posting and really dig deeply in the analysis.

David · Accepted Answer

Bankruptcy 
 Who can file Chapter 7 bankruptcy? 
An individual can file for bankruptcy if they meet chapter 7 requirements. Also, an 
individual may be a debtor under chapter7 if he/she, within 180 days of filing, been 
receiving credit counseling from a credit agency in an individual or group briefing. A 
bankruptcy judge can convert the case to chapter 13 repayment plans if the individual is 
capable of paying the debt. 
 What are some reasons that people file bankruptcy? 
1. Medical bills 
Sixty-two percent of people file bankruptcy for medical bills (Smith, n.d.). 
2. Job loss 
If people lose their jobs or there’s’ been a cut of overtime they won’t be able to 
pay their bills. 
3. Bill collectors 
If bill collectors call a million times a day, at work, at home and the neighbor’s 
house, people file for bankruptcy just to get some peace. 
4. Garnishments 
If people paycheck drop from $500 to $130 they will run straight to a bankruptcy 
lawyer to feed their family. 
5.

For this assignment, you were to respond to the questions regarding bankruptcy. I was looking for you to explain the difference between the different bankruptcies explanation as to why are these...

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