Question 9 • FL-2102373-Personal Finance and Money Management Honors
Each month Kody is struggling to make ends meet since maxing out his credit cards to pay for car repairs and medical bills. He is unaware of any way to resolve his financial issues and is considering filing for bankruptcy.Which step should Kody take before considering filing for Chapter 7 bankruptcy?
Answer
A
Kody should sell all his assets to repay his debts.
B
Kody should immediately stop paying all his debts.
C
Kody should withdraw his entire retirement savings.
D
Kody should seek debt counseling or consolidation.