A(n)_______ is an out-of-court negotiation in which a debtor enters into an agreement with a creditor or creditors for a payment or plan to discharge the debtor's debt.

Name: A(n)_______ is an out-of-court negotiation in which a debtor enters into an agreement with a creditor or creditors for a payment or plan to discharge the debtor's debt.
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Question

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A workout is the correct term for an out-of-court negotiation where a debtor and creditor agree on a plan to discharge the debtor's debt.

A(n)_______ Is an Out-Of-Court Negotiation in Which a Debtor Enters