Question

What is the difference between consumer proposal and bankruptcy?

What is the difference between consumer proposal and bankruptcy?

Business   Operations-Management   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Difference between consumer proposal and bankruptcy:

The difference between the consumer proposal and bankruptcy is listed below

Bankruptcy

Consumer Proposal

Claimed by one who owes $1000

Claimed by the one whose debt does not exceed $250,000

Most of the debt would be relieved immediately

Must have the ability to repay the remaining debt

Will lose the assets

Will keep the assets

Credit rating would be R9

Would receive R7 credit rating

Payments are based on income, expense and house size

Amount is agreed by the person and the creditor

It will last for 9 months

Will last up to 5 years

Tax refund turn over to your creditors

Can hold the refunds
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is the difference between consumer and producer surplus? How is this calculated?
What is the difference between consumer and producer surplus? How is this calculated?
To those who research consumer behavior, what is the difference between a culture and a set...
To those who research consumer behavior, what is the difference between a culture and a set of values?
What is the difference between advertising and public relations and, as a consumer, which would you...
What is the difference between advertising and public relations and, as a consumer, which would you trust more in terms of getting a information about a new product, and why?
Consumer surplus for one individual is equal to what? The difference between the selling price and...
Consumer surplus for one individual is equal to what? The difference between the selling price and market price, multiplied by the number of goods purchased. The total number of goods purchased by that individual multiplied by the difference between the market price and the production cost. The area between the demand curve and the supply curve, for that individual. The total area between the demand curve and the market price. The difference between the price that individual is willing to...
1. What’s the difference between deceitful advertising and direct falsehoods? 2. Define the reasonable consumer standard...
1. What’s the difference between deceitful advertising and direct falsehoods? 2. Define the reasonable consumer standard for consumer protection. How is it different from the ignorant consumer standard? 3. What are two arguments in favor of granting marketers wide latitude to promote their products? 4. What are two arguments in favor of forcing marketers to stay very close to the pure truth when promoting their products?
What is the difference between ‘shopping’ and ‘buying’? What impact do these two concepts have on...
What is the difference between ‘shopping’ and ‘buying’? What impact do these two concepts have on online and in-store consumer behavior?
What are the advantages of  bankruptcy for individuals doing Chapter 7 bankruptcy?
What are the advantages of  bankruptcy for individuals doing Chapter 7 bankruptcy?
. What is the difference between hedging and speculating? . What is the difference between “margin”...
. What is the difference between hedging and speculating? . What is the difference between “margin” and “maintenance margin” on a futures contract?
What is the difference between ”AND” and ”OR”? For example, is there a difference between ”rolling...
What is the difference between ”AND” and ”OR”? For example, is there a difference between ”rolling an Even AND an Odd,” and ”rolling an Even OR an odd.” Explain
What is the difference between Minority status and Culture? What is the difference between Western and...
What is the difference between Minority status and Culture? What is the difference between Western and Eastern cultures? What is the difference between a stigma vs misdiagnosing a mental illness? What are 3 norms of etiquette in across cultures? What is somatization? What are the three specific types of cultural concepts? What are the 3 ways immigrants face when arriving in the United States? What is the difference between acculturation and assimilation? What are some ways you feel like a...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT