Bankruptcy is considered a last resort because it stays on someone’s record for...
A. One to four years
B. Four to seven years
C. Seven to ten years
D. Eleven to fourteen years

Answer: C

Question

01-11-2020
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Bankruptcy is considered a last resort because it stays on someone’s record for...
A. One to four years
B. Four to seven years
C. Seven to ten years
D. Eleven to fourteen years

Answer: C

Respuesta :

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VidyaaTech2022 VidyaaTech2022 · Answer 1 · 2022-05-14T13:44:05+02:00

Bankruptcy stays on someone's record for a period from seven years to ten years, as a result, it is considered a last resort for a bankrupted party.

Option C is the correct answer.

What is bankruptcy?

Bankruptcy is a kind of legal proceeding where the individuals or entities who are unable to pay their debts can seek relief for a proportionate amount of debts or for entire debts.

The bankruptcy will remain on an individual or company's credit report for a period of seven to ten years depending on the type of bankruptcy. There are two bankruptcies namely, the Chapter 7 bankruptcy where the credit report is deleted within a period of seven years and if it is a Chapter 13 bankruptcy, then the credit report is deleted within a period of ten years.

Learn more about the bankruptcy in the related link:

https://brainly.com/question/27220195

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Fraeya Fraeya · Answer 2 · 2022-06-07T08:24:25+02:00

Fraeya Fraeya

07-06-2022

Answer:

C: seven to ten years

Explanation:

trust me

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Bankruptcy is considered a last resort because it stays on someone’s record for... A. One to four years B. Four to seven years C. Seven to ten years D. Eleven to fourteen years Answer: C

Respuesta :

What is bankruptcy?

Otras preguntas

Bankruptcy is considered a last resort because it stays on someone’s record for...
A. One to four years
B. Four to seven years
C. Seven to ten years
D. Eleven to fourteen years

Answer: C