When Tim filed for bankruptcy, he listed the following debts: - mortgage $100,000; - Canada student loan (he finished school 3 years ago) $7,000; - spousal support payments owing $6,000; - car loan $14,000; and - personal loan $7,000. Based on this scenario, which of the following statements is true? Question 39 options:

Filing for bankruptcy will alleviate $121,000 of Tim's debt

Filing for bankruptcy will alleviate only $114,000 of Tim's debt

Filing for bankruptcy will alleviate Tim of all debt, except the student loan

Filing for bankruptcy will alleviate Tim of all debt