A Proposal to Creditors Is Made by an Insolvent Debtor

question 36

Multiple Choice

A proposal to creditors is made by an insolvent debtor having difficulty meeting payments.Which of the following is True?

• A)The proposal must be rejected by creditors within 45 days,or it will be deemed to be accepted.
• B)The history will remain on the credit bureau report for three years after terms have been met.
• C)The proposal must be for an amount over $50 000.
• D)The proposal must require at least fifty percent of the total debt to be repaid.

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