If Not Objected to by the Creditors,a Consumer Proposal Could

question 25

True/False

If not objected to by the creditors,a consumer proposal could enable someone with $50 000 in consumer debt to pay off $30 000 of it and have it removed from their credit bureau report.

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Definitions:

Psychological Addiction

A form of addiction characterized by a perceived need to use a substance or engage in an activity to achieve a sense of satisfaction or to avoid discomfort, without the physiological dependence associated with substance abuse.

Caffeine

A stimulant compound found in coffee, tea, and various beverages and products, known for its effects on increasing alertness and decreasing fatigue.

Stimulant

A substance that raises levels of physiological or nervous activity in the body.

Narcotic

A class of drugs that produce analgesic (pain-relieving) effects, often leading to drowsiness, and can cause dependence.