Source: http://www.nbalaw.org/NBALaw/PracticeExam
Timestamp: 2019-02-20 15:10:54
Document Index: 481177413

Matched Legal Cases: ['§523', '§341', '§523', '§362', '§727', '§341']

An unsecured creditor files a §523(c) adversary action against your debtor client alleging fraud. You review the complaint and realize that the complaint was filed 63 days after the first date set for the §341 Meeting of Creditors. Creditor failed to file a motion to extend time. You move to dismiss the complaint because you know a §523(c) adversary complaint to determine the dischargeability of a debt must be filed no later than 60 days after the first date set for the meeting of creditors. Which Code section or Bankruptcy Rule sets the time for filing the complaint?
A. Section 523(c)(1)
B. Rule 9006(b)(3)
C. Section 707(b)
D. Rule 4007(c)
Your debtor clients ask you to file a chapter 13 case seeking to save their marital home from foreclosure because they are $23,000 in arrears. Their prior chapter 13 case was dismissed eight months ago because the husband had lost his job. The husband has since regained employment. You agree to file the new chapter 13 case knowing that debtors would enjoy the automatic stay protections for only 30 days unless you move to extend the stay. You would cite which Code section in your motion to extend the automatic stay?
A. Section 523(a)
B. Section 362(c)(3)(B)
C. Section 521(a)(6)
D. Section 1301(a)
Chapter 7 debtor owns a time-share in Palm Springs, CA worth $15,000. Debtor desires to surrender debtor's interest in the time-share because debtor still owes $10,000 on the mortgage loan and cannot afford the $1,000 annual assessments. How is debtor's situation reflected on the Bankruptcy Schedules and Statements
A. Time-share ownership is identified in Schedule A
B. Secured creditor holding the mortgage is identified in Schedule D
C. The mortgage expense & annual assessment are listed in Schedule J
D. Debtor's intent to surrender is listed in Debtor's Statement of Intent
Debtor is the trustee for her brother's twin 12-year old nieces ever since the nieces' parents died in a car crash. Debtor is holding over $12,000 in a bank account at JPMorgan Chase in a properly created trust account that designated debtor as the trustee. Where on debtor's schedules and/or statements should debtor identify the account?
A. Schedule B, line 14
B. Schedule B, line 35
C. Statement of Financial Affairs, line 14
D. Does not need to be disclosed
A debtor who is in default with chapter 13 plan payments can motion the court for a post confirmation order modifying the current plan and for an order deferring any plan default to the end of the plan pursuant what authority:
A. Section 105(a) and Rule 4005
B. Section 1326 and Rule 3019
C. Section 1325 and Rule 3015(b)
D. Section 1329 and Rule 3015(g)
While §362(a)'s automatic stay provision is the key Code provision providing debtors "breathing space" to reorganize, or for an orderly liquidation to take place, which Code section provides a discharge injunction that grants the "fresh start" to which honest debtors are entitled? And by which Code section is the discharge injunction appropriately enforced?
A. Section 362(a) and Section 362(k)
B. Section 524(a)(2) and Section 105
C. Section 362(f) and Section 363
D. Section 524(a)(2) and Rule 9011
A chapter 13 debtor who earns $50,000 yearly is required to file with the IRS all tax returns for all taxable periods ending during the 4-year period preceding the date of the filing of the petition. Which Code section sets the deadline for filing these returns as the day before the date on which the meeting of the creditors is first scheduled to be held under Section 341(a)?
A. Section 521(e)(2)(A)
B. Section 1325(a)(9)
C. Section 524(a)(2)
D. Section 1308(a)
Which Code Section restricts an attorney from advising a prospective client to incur more debt in contemplation of filing bankruptcy?
A. Section 526(a)(4)
B. Section 521(a)(6)(B)
C. Rule 9011
D. Rule 7004
True or False: A debtor incurred substantial student loans attempting to obtain an organic chemistry degree from a major university. Five years have passed and debtor has found only low-paying employment, but has not been able to obtain a job in debtor's field of organic chemisty. Debtor finds repaying bills a true hardship in light of debtor's low income. So, debtor files chapter 7 bankruptcy to discharge debtor's $30,000 in credit card debts and $45,000 in student loans. Debtor asserts that debtor's student loan debt also would be discharged automatically as soon as debtor receives a §727(a) discharge unless the student loan creditor files an adversary proceeding to challenge dischargeability prior to 60 days after the date first set for the meeting of creditors pursuant to §341(a)? Is debtor's statement of the law true or false?
Debtor owns a home that has decreased in value. Debtor has two mortgages. Debtor is distraught because the fair market value of his home is now less than the amount of his first mortgage by $20,000. The second mortgage is wholly unsecured. Debtor wants to file chapter 13 bankruptcy to cure the mortgage default on the first mortgage. But, debtor wants to strip or avoid the 2nd mortgage. Which Code section allows debtor the best bet to avoid the wholly unsecured junior mortgage?
B. Section 506(d)
C. Section 1325(a)(5)
D. Section 1322(b)