With regard to debt collection, which of the following is false?
A) Any assets obtained by a bankrupt after his being discharged can still be claimed by former creditors who placed him into bankruptcy.
B) Under the execution procedure, the assets of a judgment debtor can be seized satisfy a judgment debt.
C) A debenture can create a "floating charge" that will not attach to anything specifically until the debtor defaults or until the happening of another "crystallizing" event.
D) A person who wins in an action and is awarded damages is called a "judgment creditor."
E) The Bankruptcy and Insolvency Act provides for a procedure for an insolvent debtor to make a proposal to his creditors that, if accepted by his creditors, will not result in bankruptcy.

Question

Quizplus · Accepted Answer

Any assets obtained by a bankrupt after being discharged cannot be claimed by former creditors who placed him into bankruptcy. Once a debtor is discharged from bankruptcy, he is released from all debts that are provable in bankruptcy, except for certain debts such as student loans or court-ordered fines that he incurred before he declared bankruptcy.

With Regard to Debt Collection, Which of the Following Is