Divorced and claims the debts

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Reference no: EM131047641

Devon lost his job as a logistics manager earning $65,000 a year when his former company downsized in 2011; however, he found a new job eight months later as a logistics supervisor for a small company in Jacksonville, Florida. Devon took a significant cut in pay and now earns $46,000 a year. Devon is divorced and claims the following debts. •Home mortgage in Florida $173,000 •Child support $440 monthly •Credit cards $14,000 •Student loans $24,000 During the last four months of unemployment, Devon did not pay his mortgage and the bank sought to initiate foreclosure proceedings. Devon filed a bankruptcy petition under Chapter 7 of the Bankruptcy Code. Based on federal and state bankruptcy laws, answer the following questions: •Is Chapter 7 the appropriate bankruptcy provision for Devon’s case? •If Chapter 7 is not appropriate, provide another option and reasons for your selection. •Address the status of the debts Devon listed under Chapter 7 and any other provision of bankruptcy you select. Cite your sources in APA format on a separate page.

Reference no: EM131047641

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