TARP Stands for

question 38

Multiple Choice

TARP stands for

• A) Troubled Asset Reassurance Project.
• B) Targeted Assistance Relief Program.
• C) Troubled Asset Relief Program.
• D) Targeted Asset Reassurance Program.
• E) Timed Assistance Relief Project.

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Definitions:

Creditors

Individuals or entities to whom money is owed by another individual or entity.

Chapter 7

A bankruptcy process providing for the liquidation of a debtor's non-exempt assets to pay off creditors.

Automatic Stay

A legal provision that halts lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed.

Repossess

The act of a lender taking back property from the borrower, typically due to failure to meet the terms of the loan agreement, such as defaulting on payments.