A voluntary action the debtor can make to pay debts is to transfer, or assign title of his or her property to a trustee or assignee who sells the property to pay creditors.

Question

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This process is known as an assignment for the benefit of creditors, where a debtor voluntarily transfers property to a trustee or assignee to liquidate and distribute the proceeds among the creditors, as a way to pay off debts.

A Voluntary Action the Debtor Can Make to Pay Debts