Question

Which statement best describes what happens when people declare bankruptcy?
O Some of their debts can be eliminated, and loan terms are renegotiated with lenders.
All of their debts are eliminated, and they are given a fresh start.
O All of their debts are eliminated, but they have to sell their assets, such as their homes.
O Some of their debts can be eliminated, but they must agree not to take on more debt.

Answer 1

Answer:

All of their debts are eliminated but they have to senile their assets such as their homes.

Explanation:

I think it’s the answer I chose because they should be able to get all of their debts eliminated but they should also have to pay their debt with selling their homes in return.