In the grand scheme of bankruptcy law, the effect of a proposal, if accepted, is that it allows the debtor to retain control of his property. This is done by

	1.	a debtor making an offer to his creditors, providing for the orderly repayment of debts, or some part of his debts, over a period of time. Monies payable under the proposal must be paid to the trustee for distribution to the creditors.
	2.	a debtor sending a lengthy explanation and apology to each creditor asking for debt relief and whatever the creditors offer, if anything, incorporating into new terms of repayment to attempt to pay some of the debts off. If unable to, repeating the process so that creditors lower the amount once more.
	3.	a debtor personally making an offer to each and every one of his creditors, providing a proposal to repay some of his debts, or some part of his debts, over a period of time. Monies payable are paid directly to the creditor by the debtor.
	4.	a debtor personally reassuring his creditors that he would do better in the future and asking his creditors for loan or debt forgiveness with no, or nominal, payments against debts owing.
	5.	a debtor making an announcement to his creditors, advising no repayment of debts forthcoming.

1 points

QUESTION 9