Check My Work 3. Due to her medical balls and credit card bills (primarily used for daily living expenses), Janet is in a position where she can no longer anke the minimum motithly payments, and there is no hope that she is going to be able to do so any time soon. She has tried to delny filing for bankruptcy for six months, but it is at the breaking point, She consults with a bankruptey attorney and is advised to do what before filing a petition for robinfinder Chapter 77 afle a proof of claim b. Noully creditors of her ability to pay her debits Transfer her assets to the trustee d. Receive credit counseling from an approved nonprofit agency Check My Work Onky ENE 116 James has a monthly income of $4,000. He has the following assets and liabilities: (1) house, with a monthly mortgage payment of $1,100, including taxes and insurance (2) vehicle, with a monthly payment of $500; (3) medical bills in the amount of $10,000, with a monthly minimum payment of 5.400; 4) credit card bills totaling $15.000, with a monthly minimum payment of $600 (s) miscellaneous assets of $1.000; and (6) miscellaneous expenses of goodfood, car insurance, gas, phone, etc.) James should a file for a Chapter 11 bankruptcy to reorganize his debts. b.file for a Chapter 15 barkroptey to reorganize his debts c.not fe for bankruptcy Od. Ide for a Chapter 7 bankruptcy to discharge all of his debts Check My Work SimCo, an investment company, is trying to expand its business into several new macos at once. As part of this aggressive plan. It has purchased several properties, which are all mortgaged. SimCo has also purchased furnishings on credit and invested heavily in marketing. Simo's debt is approximately 51.5 million. The new locations and not doing well, and the older locations are suffering as a result Simco is not making enough money to malce monthly payments to all the creditors, and is een hirving difficulty making payroll. SimCo should: O afile for a Chapter 7 bankruptcy to discharge all of its debes b. file for a Chapter 11 bankruptcy to reorganize ts debes chile for a Chapter 1 bankruptcy to reoranides debts d. not file for bankruptcy 9781337624671_Miller_BLTE ch34_LR.03m Question 3 of 3 Check My Work simo, un investment company, is trying to expand its business into several new markets at once. As part of this agressive plan, it has purchased several properties, which are all mortgaged. SimCo has also purchased furishings on credit and invested heavily in marketing SimCo's debt is approximately $1.5 million. The new locations are not doing well, and the older locations are suffering as a result. SimCo is not making ough money to make monthly payments to all the creditors, and is even having difculty making payroll. SimCo should: O file for a Chapter 7 bankruptcy to discharge all of its debes b. tle for a Chapter 11 bankruptcy to reorganize its debts. c.file for a Chapter 13 bankruptcy to reorganise its debts. Od not file for bankruptcy Check My Work James luns a monthly income of $4,000. He has the following assets and liabilities: (1) house, with a monthily mortgage payment of $1,100, including taxes and insurance; e) vehicle, with a monthly payment of $500; (3) medical bills in the amount of $10,000, with a monthly minimum payment of $400; (4) credit card bills totaling $15,000, with a monthly minimum payment of $600; (5) miscellaneous assets of $1,000; and (6) miscellaneous expenses of $500 (food, car insurance, gas, phone, etc.). James should: a. file for a Chapter 11 bankruptcy to reorganize his debts. O b.file for a Chapter 13 bankruptcy to reoparise his debes O not file for bankruptcy Od file for a Chapter 7 bankruptcy to discharge all of his debts. ment: Legal Reasoning 34.1 Subare for Grading HITTIMELLIM Quanto dacky Work Due to be medical credit and prayed for daily living spelen in a petition where she can do it the mod yetents, and there is no hope that she is going to be able to do anytime. Sur las tres de fugle bankruptcy for the month, but at the healing point She come with a honlaptey attome ind in dried to do what before filing a petition for the Chapter 1 protot com Otras iroda 12 O $ ING