The given statement " If you file a Chapter 13 you will be unable to maintain a reasonably sound credit rating " is FALSE
Step-by-step explanation:
A lawsuit under Chapter 13 is also known as a scheme by wage earners. It allows earned income individuals to schedule a recovery of all or some of their debts.
Under this clause, debtors think that making payments throughout three to five years to creditors.
You satisfy your credit duty under Chapter 13, retain the balance of your properties and maintain an acceptable credit rating. They do not satisfy your credit requirement in Chapter 7, selling your properties as much as they can to try and pay as many of your debt, and this also impacts your credit score adversely.