Which of the following situations would be most likely to qualify for chapter
13 bankruptcy?
A. Michael incorporated his business a few years ago. He invested
heavily and spent a lot of money on credit. The business receives
significant income, but the debt load is making profitability almost
impossible.
B. Colleen has a large amount of debt, but her income is sufficiently
large that she is able to meet her payments each month. She has
no extra spending money, however, and would be able to live more
comfortably if her debt was canceled.
C. Samantha is a young professional who has established herself in
her career and earns a substantial income. Unfortunately, she has
large amounts of debt from past mistakes and unfortunate
events.
D. Kane has struggled financially for a long time. He has a college
degree, but his chosen field has never been one that provides a
large income. He has not been able to find a stable job with
sufficient income for a number of years, and he now has large
deht.