Lenders Loan Company and Mortgage Service Corporation-Nadya's creditors-contract with Nadya for the discharge of her liquidated debts on payment of a lesser sum. This is

Question

Lenders Loan Company and Mortgage Service Corporation-Nadya's creditors-contract with Nadya for the discharge of her liquidated debts on payment of a lesser sum. This is​

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This is a composition agreement, where Nadya's creditors have agreed to discharge her debts in exchange for a smaller payment. This is a common practice in debt settlement negotiations.

Lenders Loan Company and Mortgage Service Corporation-Nadya's Creditors-Contract with Nadya