Question

Which of the following is false regarding provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005?

A. Under the Act, an individual may not generally be considered a debtor unless within 190 days prior to filing, the debtor receives credit counseling from a nonprofit budget and credit counseling agency.

B. Under the Act, if an individual was a debtor in a bankruptcy case that was dismissed within 190 days of the current case, the individual is generally not eligible to be a debtor under Chapters 7, 11, or 13.

C. Under the Act, if a previous bankruptcy was completed rather than dismissed, the individual is generally permitted to file for bankruptcy again.

E. Under the Act if a party has at least $10,000 in assets, the party may not file for any type of bankruptcy protection.

If an individual's debt is primarily consumer debt and if the individual's income is above the median income in his or her state, the court may presume that the individual is abusing the bankruptcy provisions; but there is no provision that a party may not file for any type of bankruptcy if the party has at least $10,000 in assets.

Answer

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