Author Question: If a creditor repossesses a debtor's property and sells it, the proceeds must be applied to the ... (Read 139 times)

roselinechinyere27m · **on:** Jun 24, 2018

If a creditor repossesses a debtor's property and sells it, the proceeds must be applied to the
outstanding debt.

Indicate whether the statement is true or false

Question 2

If the debtor fails to make payments when due in a secured transaction, the creditor may
repossess the collateral to recover the outstanding amount of the debt.

Indicate whether the statement is true or false