Part IX agreements offers an alternative to bankruptcy when relatively small debts are involved.Which of the following is not a feature of a Part IX agreement?
A) Creditors must vote to approve a Part IX agreement.
B) The debtor's annual after tax income must not exceed approximately $68 000.
C) There are no fees or administrative charges if the Official Trustee processes the agreement.
D) Debtors are given a 12- month moratorium period during which they do not have to make payments to creditors.
Correct Answer:
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