Which of the following nonbankruptcy alternatives allows the debtor to transfer some or all of his assets to a trustee who sells the assets and apportions the proceeds in some agreed manner, usually pro rata, to the creditors?

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This nonbankruptcy alternative is known as an "Assignment for the benefit of the creditors." In this process, the debtor transfers some or all of their assets to a trustee, who sells the assets and distributes the funds to the creditors according to an agreed-upon method, typically pro rata. This method is often used when a debtor wants to avoid the legal and financial consequences of filing for bankruptcy but still wants to repay their debts.

Which of the Following Nonbankruptcy Alternatives Allows the Debtor to Transfer