What is NOT a right exercised by creditors?

Creditors possess specific rights that allow them to secure repayment of debts owed to them. Among these rights, they can establish secured interests in assets, take legal actions like wage garnishment to obtain funds directly from a debtor's earnings, and initiate foreclosure on property to recover debts secured by that property.

However, settling debts typically requires the consent of both parties involved—the creditor and the debtor. A creditor cannot unilaterally impose a settlement agreement on the debtor without their agreement. Settlements often involve negotiations where both parties agree on the terms to resolve an outstanding debt, which is why this option is not a right exercised by creditors. The act of settling without the debtor’s consent would disregard the debtor's contractual rights and the mutual agreement principle fundamental to contract law. This underscores the importance of consent in financial agreements between creditors and debtors.