Ch 21: ORELA Business Education: Creditors' Rights & Bankruptcy

About This Chapter

You can use this chapter filled with brief and engaging lessons and quizzes about creditors' rights and bankruptcy to get ready for the ORELA Business Education exam. It will help you remember the information you need to pass your exam.

ORELA Business Education: Creditor's Rights & Bankruptcy - Chapter Summary

Here, you will find vibrant 5-10 minute-long videos that will enable you to brush up on your knowledge of concepts like debt collection and secured transactions. Take a few minutes to answer short quiz questions about the definition of bankruptcy. Once you have finished this chapter, you will be able to answer exam questions about the following:

  • Creditors' general rights and bankruptcy rights
  • Collection of debt
  • Examples of secured transactions
  • Definition of bankruptcy, Chapter 7 and Chapter 11 bankruptcy

If you need to go back to a certain lesson, click Recent Activity. All lessons allow you to progress at your own pace. However, you can work towards different achievements and awards. We also have text transcripts available. After taking the quizzes, you can review the sections of the video lessons that highlight the correct answers.

ORELA Business Education: Creditor's Rights & Bankruptcy Objectives

The Business Management, Law, and Ethics portion of the ORELA Business Education exam includes the subject matter in this chapter, and it is worth 19% of the whole exam. The complete ORELA Business Education test includes 150 computerized multiple-choice questions. Exam questions may ask you to demonstrate your understanding of the details of bankruptcy.

7 Lessons in Chapter 21: ORELA Business Education: Creditors' Rights & Bankruptcy
Test your knowledge with a 30-question chapter practice test
Creditors' Rights and Business Law

1. Creditors' Rights and Business Law

Business law is a broad area of law that covers many different topics. One important topic concerns creditors' rights. This lesson generally explains the role of creditors and creditors' rights in terms of business law.

Debt Collection and Repossession Rights

2. Debt Collection and Repossession Rights

When a debtor fails to make payments on a secured loan, the creditor can usually reclaim the collateral. This lesson explains when a creditor has a right to repossession or foreclosure.

Secured Transactions: Examples & Explanations

3. Secured Transactions: Examples & Explanations

A secured transaction is any deal in which a creditor receives a security interest in the debtor's property. This lesson explains what a secured transaction is and how these transactions work.

Overview of Bankruptcy in the US

4. Overview of Bankruptcy in the US

Sometimes people and even businesses get behind on their bills and can no longer make payments. Bankruptcy is a way for those who cannot pay their debt to sell off assets to repay their creditors.

Chapter 7 Bankruptcy: Definition & Process

5. Chapter 7 Bankruptcy: Definition & Process

In this lesson, we'll define Chapter 7 bankruptcy. You'll learn about the filing requirements and what happens before and after you file. We'll also discuss which property you can retain and which property you must return.

Chapter 11 Bankruptcy: Definition, Protection & Process

6. Chapter 11 Bankruptcy: Definition, Protection & Process

In this lesson, you will learn what Chapter 11 Bankruptcy is, how it works, and what protections it provides to the filer. The process from filing to completion under Chapter 11 protection will also be chronicled.

Creditor Rights in Bankruptcy

7. Creditor Rights in Bankruptcy

Bankruptcy is governed by federal law and allows a debtor the legal right to reorganize, and sometimes discharge, his or her debts. This lesson explains the three main types of bankruptcy proceedings.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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Other Chapters

Other chapters within the ORELA Business Education: Practice & Study Guide course