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.

Question

Quizplus · Accepted Answer

The proposal must be rejected by creditors within 45 days, or it will be deemed to be accepted.

A Proposal to Creditors Is Made by an Insolvent Debtor