11
QuizMultiple Choice

Bankruptcy

Question 11 • [PERFIN] Personal Finance, Sem 2 (26-27)

Which of the following, while appearing negative, might actually be considered an advantage of filing bankruptcy?

Answer
A
inability to get new credit cards
B
inability to discharge all debt
C
inability to get a car loan
D
inability to stop collections by creditors

Explanation

Being unable to get new credit cards may seem like a disadvantage, but it can help someone avoid taking on more debt while rebuilding their finances after bankruptcy. The other choices describe limitations or problems, such as debts that cannot be discharged or collections that continue.

AI-written and checked against the verified answer.

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