In strict foreclosure, a secured creditor can accept the collateral in full satisfaction or partial satisfaction of the debt.

Name: In strict foreclosure, a secured creditor can accept the collateral in full satisfaction or partial satisfaction of the debt.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

In strict foreclosure, the secured creditor has the option to take possession of the collateral in full satisfaction or partial satisfaction of the debt.

In Strict Foreclosure, a Secured Creditor Can Accept the Collateral