Question

alex and zoey are considering filing for bankruptcy. they passed the means test but are still hesitant. what disadvantages do they need to consider? choose three correct answers. filing for bankruptcy will impact their credit history. filing for bankruptcy may hinder employment offers. filing for bankruptcy may lower overall balances owed. filing for bankruptcy may trigger higher interest rates. filing for bankruptcy can reduce their stress.

Explanation:

To determine the disadvantages of filing for bankruptcy, we analyze each option:

• "Filing for bankruptcy will impact their credit history" is a disadvantage as bankruptcy negatively affects credit scores and history.
• "Filing for bankruptcy may hinder employment offers" is a disadvantage because some employers consider bankruptcy history, especially in finance - related fields.
• "Filing for bankruptcy may lower overall balances owed" is incorrect as bankruptcy is meant to help reduce or restructure debt, not lower balances in a negative - disadvantage - related way (it's more of a potential benefit in terms of debt relief).
• "Filing for bankruptcy may trigger higher interest rates" is a disadvantage as lenders may view bankruptcy filers as high - risk and charge higher interest.
• "Filing for bankruptcy can reduce their stress" is a potential advantage, not a disadvantage.

So the three correct options related to disadvantages are the ones about credit history impact, hindering employment offers, and triggering higher interest rates.

Answer:

A. Filing for bankruptcy will impact their credit history, B. Filing for bankruptcy may hinder employment offers, D. Filing for bankruptcy may trigger higher interest rates