Question 21 The purpose of bankruptcy law is to provide debt relief to those who qualify for it. True False Question 22 By filing for bankruptcy every debtor is entitled to an Automatic Stay (that immediately upon filing stops creditors collection efforts, including lawsuits and foreclosures, against the debtor). True False Question 23 If a secured creditor of a debtor in bankruptcy is not adequately protected (e.g., the collateral has no equity and the security interest is diminishing in value) the secured creditor is entitled to relief from the automatic stay and can move the court to lift the stay. If the court grants the motion for relief from automatic stay, the secured party can then foreclose on the collateral. True False Question 24 Chapter 7 provides for readjustment of debt. True False Question 25 Chapter 13 is a liquidation action. True False