Project #55963 - Business Law

Saturday, February 7, 2015. Label the beginning of each case study with the number you selected (e.g. Case Study 1). Cite your sources in APA format on a separate page

Case Study 1: Bankruptcy

Andy lost his job earning $80,000 a year as a purchasing manager when his former company downsized two years ago; however, he now has a job as a purchasing agent earning $40,000 a year.  Andy is divorced with a $150,000 mortgage on his home in Florida.  He pays $300 a month in child support, owes $15,000 on credit cards and $20,000 in student loans.  During the two months he was unemployed, Andy did not pay his mortgage and the bank initiated foreclosure proceedings.  Andy filed a bankruptcy petition under Chapter 7 of the Bankruptcy Code.   Is Chapter 7 the appropriate provision for Andy’s case? If yes, explain the reason and the status of each debt listed above.  If no, explain why Chapter 7 is not appropriate, provide an alternative and explain Andy’s obligations under the selected alternative.

Case Study 2: Consumer Protection

Martha applied for a loan at two banks.  Martha’s application was denied by the first bank but was approved by the second bank.   Martha believes that the first bank denied her loan application because she is a minority.  The first bank never provided any reason for denying Martha’s request for a loan.  After obtaining the loan from the second bank, Martha soon found herself unable to make the required payments.  Martha went into default, causing the bank to turn her case over to a collection agency.  The collection agency called her night and day and were quite abusive in their collection practices.  Martha became very upset and unable to function at her job.  As a result, Martha was fired.  What are Martha’s legal rights?

Subject Business
Due By (Pacific Time) 02/07/2015 12:00 am
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