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Problem regarding the unsecured creditor

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Reference no: EM131068661

‘Creditors' include £3,700, which, together with the bank overdraft, are secured. Hence, £29,000 of the liabilities, made up of the bank overdraft and other secured creditors, must be paid first and in full.

Calculate:

1. The rate in the £ that an unsecured creditor will receive.

2. The amount owed to an unsecured creditor who receives £13,420

Reference no: EM131068661

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