Question:
After an extended hospital stay, Jayla is drowning in debt. Jayla decides to file for bankruptcy, because she sees no other way out. Jayla owes $50,000 to Mercy Hospital, $3,000 to Car Mart for her automobile, and $8,000 to VISA. She is behind on payments to every single one of them! When Jayla's bankruptcy is concluded: Car Mart and Mercy Hospital will be paid first because they are secured creditors. Car Mart will be paid first because it is a secured creditor. Car Mart and VISA will be paid first because they are secured creditors. Mercy Hospital and VISA will be paid first because they are secured creditors.