WorksheetsBankruptcy Quiz Worksheet Questions
Total questions: 8
Worksheet time: 4mins
Why do people file for bankruptcy? Mark only one oval.
can easily pay off debts
can't pay off debts
because the government forces you to
Which option is an advantage of filing for bankruptcy? Mark only one oval.
credit score will decrease (go down)
debt will be forgiven (erased)
it will be harder to buy things like a car or home
How many years can a bankruptcy stay on a credit report? Mark only one oval.
1-2 years
7-10 years
3-5 years
The word "debt" means Mark only one oval.
money you get from a job
money you owe like credit cards, medical bills, and loans
money the government collects every year to pay for services
Chapter 7 Bankruptcy is for people with a _______ income. Mark only one oval.
low
average
high
Which type of bankruptcy allows you to keep your property and pay back your debt through payment plans? Mark only one oval.
Chapter 7
Chapter 13
Before an individual may file for bankruptcy they must: Mark only one oval.
go to court and argue their charges
attend and complete credit counseling
invest in stocks and bonds
Select all the answer choices below of common reasons people file for bankruptcy. Check all that apply.
stable income and pays bills on time
divorce from wife or husband
high medical bills
job loss
