Business, 09.12.2019 20:31 YoungKukie24

To start his business, neil borrows money from every source available to him, including all his credit cards and a line of credit at his bank. the business fails, and neil files a voluntary chapter 7 petition in good faith to discharge his debts. in the meantime, he returns to work as an attorney where he makes over twice the median family income in his state. neil's debts will most likely:
a. not be discharged because claims for amounts borrowed to start a business fall under an exception to discharge.
b. be paid at least in part, after his case is converted to a chapter 11 reorganization plan.
c. be paid at least in part, after his case is converted to a chapter 13 repayment plan.
d. be discharged provided that he follows all the rules.

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