Asked by Sarina Kumar on Jun 03, 2024
Verified
Petition to a court by an individual who is stating that he or she cannot pay any debt incurred
A) third-party check
B) postal money order
C) Federal Trade Commission (FTC)
D) Fair Debt Collection Practices Act (FDCPA)
E) Truth in Lending Act (TILA)
F) validation notice
G) collection agencies
H) statute of limitations
I) skip
J) bankruptcy
Bankruptcy
The state of being bankrupt, being legally declared unable to pay debts; a petition to a court by an individual who is stating that he or she cannot pay any debt incurred.
- Identify the legal and regulatory structures that oversee medical billing and debt collection processes.
Verified Answer
JA
Justin A MorganJun 06, 2024
Final Answer :
J
Explanation :
Bankruptcy is a legal process through which individuals or businesses who cannot repay their debts to creditors may seek relief from some or all of their debts. In the context of the given options, it directly matches the definition of a petition to a court by an individual stating that he or she cannot pay any debt incurred.
Learning Objectives
- Identify the legal and regulatory structures that oversee medical billing and debt collection processes.