The Debtor Defaults on His Agreement with the Creditor,the Creditor

question 32

True/False

The debtor defaults on his agreement with the creditor,the creditor repossesses the collateral,and the creditor then sells the collateral.The creditor may retain any surplus if the amount realized on the sale exceeds the amount of the debtor's debt.

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Definitions:

Forgetting

The loss or failure to recall information that was once stored in the memory, due to various factors like time, interference, or failure in retrieval cues.

Motivation

The psychological processes that direct and maintain goal-directed behaviors.

Transference

In psychotherapy, the process by which emotions originally associated with one person, such as a parent, are unconsciously shifted to another, especially to the therapist.

Defense Mechanisms

Psychological strategies brought into play by the unconscious mind to manipulate, deny, or distort reality in order to defend against feelings of anxiety and unacceptable impulses and to maintain one's self-schema.