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TRUE OR FALSE1. If a creditor fails to perfect its security intere.pdf

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TRUE OR FALSE 1. If a creditor fails to perfect its security interest in a debtor's property the trustee can move to seize the asset leaving the creditor unsecured and making the asset a part of the bankruptcy estate to be used to pay bankruptcy costs and unsecured creditors. 2. If a debtor transfers property or pays money to a creditor within 90 days prior to filing bankruptcy the transfer can be set aside as preferential and the trustee can seize the property or money for the bankruptcy estate and the benefit of all creditors not just the one to whom the transfer was made..

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TRUE OR FALSE 1. If a creditor fails to perfect its security interest in a debtor's property the trustee can move to seize the asset leaving the creditor unsecured and making the asset a part of the bankruptcy estate to be used to pay bankruptcy costs and unsecured creditors. 2. If a debtor transfers property or pays money to a creditor within 90 days prior to filing bankruptcy the transfer can be set aside as preferential and the trustee can seize the property or money for the bankruptcy estate and the benefit of all creditors not just the one to whom the transfer was made.

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