Please refer to Financial Rehabilitation and Insolvency Act of the Philippines in answering the following.

1. When is suspension of payment be applied?

2. What is the difference between rehabilitation and liquidation process?

3. How much is the minimum liability or obligation in order for suspension of payment, rehabilitation, and liquidation of an individual debtor be granted by the court?

4. What is the effect of suspension order?

5. What are the three types of rehabilitation? Explain each type.

6. Discuss the different types of creditors. Explain each.