The statement that is not true about bankruptcy is that Bankruptcy erases all of your debt. Option A is correct.
Bankruptcy is a legal process or procedure that involves a person or business that is unable to repay its outstanding debts.
The bankruptcy methodology starts with a requisition or petition that is pointed by the debtor, which is most expected, or on behalf of creditors, and which is less common.
After filing bankruptcy, it is possible to rebuild credit after filing bankruptcy of a debtor, and there are certain waivers that allow maintaining the requirements.
Bankruptcy prevents assertive action by creditors, and it does not mean that it erases all of your debt.
Therefore, option A is correct.
Learn more about bankruptcy, refer to:
https://brainly.com/question/1142634
Answer:
A
Explanation:
Which of the following is not a true statement about filing bankruptcy?
a.
Bankruptcy erases all of your debt.
b.
It is possible to rebuild your credit after filing bankruptcy.
c.
There are exemptions that allow you to keep essentials.
d.
Bankruptcy stops aggressive action by creditors.
A
