QuestionJuly 20, 2025

Which of the following is not true under the 2005 changes to the Bankruptcy Code? Multiple Choice Individual debtors must engage in credit counseling. A trustee is no longer necessary. Bankruptcy attorneys have increased legal responsibility. A new means test is required.

Which of the following is not true under the 2005 changes to the Bankruptcy Code? Multiple Choice Individual debtors must engage in credit counseling. A trustee is no longer necessary. Bankruptcy attorneys have increased legal responsibility. A new means test is required.
Which of the following is not true under the 2005 changes to the Bankruptcy Code?
Multiple Choice
Individual debtors must engage in credit counseling.
A trustee is no longer necessary.
Bankruptcy attorneys have increased legal responsibility.
A new means test is required.

Solution
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Answer

A trustee is no longer necessary. Explanation The 2005 changes to the Bankruptcy Code introduced several requirements, including mandatory credit counseling for individual debtors and a new means test. However, a trustee is still necessary in bankruptcy cases, making the statement about trustees not being required false.

Explanation

The 2005 changes to the Bankruptcy Code introduced several requirements, including mandatory credit counseling for individual debtors and a new means test. However, a trustee is still necessary in bankruptcy cases, making the statement about trustees not being required false.
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