Question 1

Tom is an individual in deep financial trouble. He has decided to file for Chapter 13 bankruptcy protection. Under the filing, Tom will have:

one year to discharge all his debts.

three years to pay down his debts per the final bankruptcy plan.

three years to discharge all his debts.

one year to pay down his debts per the final bankruptcy plan.

Question 2

Jill has filed for Chapter 13 protection and has submitted a plan to the court for resolution of her debts. One of Jill's creditors objects to the plan. It is most likely the case that:

the objecting creditor is an unsecured creditor.

Jill

Jill will not be committing all of her disposable income to the bankruptcy discharge over the next three years.

All of the above.