Though it is Seen As a Last Resort, Bankruptcy Allows a Consumer to

Answer :

A. Temporary stop paying debts

B. Eliminate certain types of debt

C. Easily reestablish good credit

D. Receive credit in an emergency

Correct Answer: B - Eliminate certain types of debt

When a consumer files for bankruptcy, he/she is allowed to eliminate certain types of debts. The bank will begin a review to verify that you lack the financial means to pay your debts if your file is accurate.

Related Question:

Which of the following is no a common feature of a financial institution

What was the Core Business that made Standard Oil a Horizontally Integrated Monopoly?

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