Answer one of the following questions, applying what you have learned throughout the debtorcreditor module.Identify any potential issues and explore the implications with reference to the resources in Module 11.

1. Distinguish between secured and unsecured creditors, using examples. 2. Explain the bankruptcy process and describe alternatives to this process. 3. Explain what is meant by priority among creditors in bankruptcy? Include examples in your answer. 4. What role does a guarantor play in secured transactions? What are some of the consequences of agreeing to be a guarantor?

Properly referencing your sources