Where a creditor has indicated that a debt is unworthy of the time it would take to collect,which of the following allows the debtor to seek remedies in order to bring closure to its obligations?

Question

Quizplus · Accepted Answer

The Bankruptcy and Insolvency Act allows debtors to seek remedies such as bankruptcy, consumer proposals, or debt restructuring when a creditor has indicated that a debt is unworthy of collection. This act provides a framework for debtors to deal with uncollectible debts and move towards closure of their obligations. The other options listed either do not exist or do not apply in this situation.

Where a Creditor Has Indicated That a Debt Is Unworthy