ADM-477: Business Law
I can provide book link.
Due to the economy, Belinda can only find part-time work in retail. She earns $24,000 per year and has close to $165,000 in car loan, credit card, and student loan debt. The car dealership where she purchased her car is threatening repossession because she is several months behind in her monthly payments. Belinda is overwhelmed and would like to know about the pros and cons of filing for bankruptcy.
Bankruptcy may be a viable solution for Belinda and other consumers like her who are overwhelmed with unmanageable debt. Bankruptcy could give Belinda a chance to address her debt in an organized and manageable way. Alternatively, it may give her a fresh start by wiping her clean of debt. However, Belinda should take into account the long-term financial implications of a bankruptcy filing because it can remain on her credit report for as long as ten years. After a bankruptcy, Belinda may have difficulty securing loans for a vehicle or other consumer goods. If she does manage to secure financing, the interest rates will be very high due to her bankruptcy record.
Belinda must also consider that bankruptcy does not easily discharge all types of debt. Absent extreme hardship, Belinda’s student loan debt cannot be discharged in bankruptcy. In the event that Belinda’s student loan debt is discharged, she may still have to pay taxes on the cancelled debt because it is considered taxable income. Student loan providers report any borrower whose debt forgiveness is more than $600 to the IRS. Unless Belinda was insolvent at the time she requested the debt forgiveness, she’ll have to pay the tax bill.
Whatever route Belinda takes, she must balance the pros and cons of her decision. Bankruptcy is a serious matter with long-term consequences.
Upon successful completion of the course material, you will be able to:
Federal bankruptcy courts enforce the U.S. Bankruptcy Code. The Bankruptcy Code sets forth the rights and obligations of debtors and creditors in bankruptcy proceedings. State laws also allow for certain property exemptions under the Bankruptcy Code.
Bankruptcy proceedings fall into the following categories:
1/31/22, 9:37 AM
Preview Rubric: Course Discussions – 4WI2021 Business Law (ADM-447-01B) – Indiana Wesleyan University
Course Discussions
Course: 4WI2021 Business Law (ADM-447-01B)
Criteria
Quality
Level 4
Level 3
Level 2
Level 1
15 points
12 points
8 points
4 points
(13–15 points
possible)
(9–12 points possible)
(5–8 points possible)
(0–4 points possible)
Your posts show some
development, and
some critical thinking
is evident.
Your posts show
nominal development
and only the
beginnings of critical
thinking.
Your posts show no
development and
mostly reiterate what
the textbook or others
have said.
Your questions and
observations add to
the discussion by
expanding the ideas of
others.
Your questions and
observations do not
clearly add to the
discussion.
Your questions and
observations detract
from the discussion.
5 points
4 points
2 points
0 points
(5 points possible)
(3–4 points possible)
(1–2 points possible)
(0 points possible)
Your initial post is
made by the fourth
day of the workshop.
Your initial post is
made by the fifth day
of the workshop.
Your initial post is
made by the sixth day
of the workshop.
Your initial post is
made by the seventh
day of the workshop.
Your posts are well
developed and provide
clear evidence of
critical thinking.
Your questions and
observations add
greater depth to the
discussion by
introducing new ideas.
Timeliness
https://brightspace.indwes.edu/d2l/lp/rubrics/preview.d2l?ou=158670&rubricId=488081&originTool=quicklinks
Criterion Score
/ 15
/5
1/3
1/31/22, 9:37 AM
Criteria
Interaction
Preview Rubric: Course Discussions – 4WI2021 Business Law (ADM-447-01B) – Indiana Wesleyan University
Level 4
Level 3
Level 2
Level 1
20 points
17 points
13 points
9 points
(18–20 points
possible)
(14–17 points
possible)
(10–13 points
possible)
(0–9 points possible)
You respond to at least
two classmates as well
as all instructor followup questions directed
to you.
You respond to two
classmates and some
of the instructor
follow-up questions
directed to you.
You respond to two
classmates but not to
instructor follow-up
questions directed to
you.
You are clearly
collaborative by taking
the initiative to
respond to classmates’
questions, providing
clarification and
insight on issues in the
discussion.
You are collaborative
in some situations and
show some initiative in
workshop discussions.
You show little
initiative in the
discussion, and your
presence is not
collaborative.
Total
https://brightspace.indwes.edu/d2l/lp/rubrics/preview.d2l?ou=158670&rubricId=488081&originTool=quicklinks
Criterion Score
/ 20
You do not respond to
the postings of others
in the discussion.
/ 40
2/3
1/31/22, 9:37 AM
Preview Rubric: Course Discussions – 4WI2021 Business Law (ADM-447-01B) – Indiana Wesleyan University
Overall Score
Total Points
0 points minimum
https://brightspace.indwes.edu/d2l/lp/rubrics/preview.d2l?ou=158670&rubricId=488081&originTool=quicklinks
3/3
Program Code IWU SILVER
Course Code ADM447
Driving Dangers: Millions Driving on Unsafe Tires
Newscaster: Tonight, first came the ABC news investigation about the tires on your
car. Now, a year later, comes a new warning for millions of drivers. Were there tires
recalled without them even knowing and are your tires a lot older than you think? ABC’s
chief investigative correspondent, Brian Ross, with the number to look for.
Brian Ross: Members of a Florida church group are on their way to a weekend retreat
when a tire blew and the driver lost control of the van. Two adults died, 10 teenagers
were hospitalized. Investigators say the church never got the word that that tire had
been recalled a year earlier. Today, investigators for the National Transportation Safety
Board said it happens all the time. Millions of tires are under safety recall, but the vast
majority of owners never find out about it.
Robert Molloy: That system is not working. It is completely broken.
911 Caller: Somebody lost control of their vehicle.
Ross: The NTSB investigation also found motorists are in the dark about the potential
dangers of tires that look new but are actually quite old. The tire that failed in this
California accident was eight years old, killing a young mother.
Accident victim’s mother: My grandson is growing up without his mother.
Ross: Safety engineers say a tire can begin to break down after just six years, even if it
has been in storage and never driven on, and it is not easy to figure out a tire’s age. It is
actually hidden in a code on the side wall; 4105 means this tire was made in the 41st
week of 2005. It is 10 years old. There is no law or industry-standard that prevents the
sale of tires that old, and our ABC news investigation found tires for sale at major
outlets that were 10 to 15 years old.
David, advice tonight from government safety officials: car owners need to know how
old there tires are, if they are under recall, and of course if they are properly inflated.
Newscaster: Have someone at the garage check for that number.
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