To Reduce Creditor Attempts to Pressure Debtors to Reaffirm,which of the Following

question 67

Multiple Choice

To reduce creditor attempts to pressure debtors to reaffirm,which of the following acts requires that a reaffirmation promise be made prior to the date of the discharge and gives the debtor the right to revoke his promise within 30 days after it becomes enforceable?

• A)The National Labor Relations Act
• B)The Bankruptcy Abuse Prevention and Consumer Protection Act
• C)The Uniform Debt-Management Services Act
• D)The Bankruptcy Reform Act

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Definitions:

International Trade

The exchange of goods, services, and capital between countries and territories, driven by the principle of comparative advantage.

Joseph Stiglitz

An American economist and a professor at Columbia University, known for his work on income distribution, risk, and globalization. He is a recipient of the Nobel Memorial Prize in Economic Sciences.

Nobel Prize

International awards given annually in several categories (e.g., peace, literature, physics) to recognize significant contributions or achievements.

IMF

The International Monetary Fund, an organization aimed at fostering global monetary cooperation, securing financial stability, and facilitating international trade.