Debtor’s Options for Getting Out of Debt - Revision history

Drew Jackson at 14:38, 9 October 2018

2018-10-09T14:38:38Z

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	This section outlines options a debtor may use to '''resolve debt problems''', from budgeting out of debt to consolidating their debts to declaring bankruptcy.		This section outlines options a debtor may use to '''resolve debt problems''', from budgeting out of debt to consolidating their debts to declaring bankruptcy.

	== Client problems==		== Client problems==
	* Client wants to know how to resolve problems with one or more creditors.		* Client wants to know how to resolve problems with one or more creditors.

	== Solving the problem==		== Solving the problem==
	[[File:Consumer_Law_and_Debt_-_Debtor’s_Options_for_Getting_Out_of_Debt.jpg\|thumb\|275px\|right\| link=\| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]		[[File:Consumer_Law_and_Debt_-_Debtor’s_Options_for_Getting_Out_of_Debt.jpg\|thumb\|275px\|right\| link=\| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]

Elena Renderos at 04:54, 21 September 2018

2018-09-21T04:54:17Z

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	== Solving the problem==		== Solving the problem==
			[[File:Consumer_Law_and_Debt_-_Debtor’s_Options_for_Getting_Out_of_Debt.jpg\|thumb\|275px\|right\| link=\| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]
	Most debt problems are primarily financial problems, not legal problems. Accordingly, a debtor can take several steps that do not involve the legal process. In many instances, a debtor can resolve a problem directly with the creditor, possibly with the assistance of an advocate.		Most debt problems are primarily financial problems, not legal problems. Accordingly, a debtor can take several steps that do not involve the legal process. In many instances, a debtor can resolve a problem directly with the creditor, possibly with the assistance of an advocate.

Elena Renderos at 19:35, 19 September 2018

2018-09-19T19:35:52Z

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	== Related topics and materials==		== Related topics and materials==
	See the other sections on getting out of debt:		See the other sections on getting out of debt:
	* Assignments in ~~Bankruptcy~~		* [[Assignments in Bankruptcy]]
	* Consumer and Ordinary ~~Proposals~~		* [[Consumer and Ordinary Proposals]]
	* Orderly Payment of ~~Debts~~		* [[Orderly Payment of Debts]]

	See related topics:		See related topics:
	* Contract ~~Defences~~		* [[Contract Defences]]
	* Instalment Payment ~~Orders~~		* [[Instalment Payment Orders]]
	* Interest and the Cost of Borrowing ~~Money~~		* [[Interest and the Cost of Borrowing Money]]
	* Stays of Enforcement.		* [[Stays of Enforcement.]]

	See also People’s Law School’s pages on [https://www.peopleslawschool.ca/everyday-legal-problems/money-debt/getting-out-debt getting out of debt], the chapter “[https://www.clicklaw.bc.ca/resource/1727 Creditors’ Remedies and Debtors’ Assistance]” from the manual used by the UBC Law Students’ Legal Advice Program, and the [https://www.nomoredebts.org/canada/bc/credit-counselling.html Credit Counselling Society of BC]’s pages on options for getting out of debt.		See also People’s Law School’s pages on [https://www.peopleslawschool.ca/everyday-legal-problems/money-debt/getting-out-debt getting out of debt], the chapter “[https://www.clicklaw.bc.ca/resource/1727 Creditors’ Remedies and Debtors’ Assistance]” from the manual used by the UBC Law Students’ Legal Advice Program, and the [https://www.nomoredebts.org/canada/bc/credit-counselling.html Credit Counselling Society of BC]’s pages on options for getting out of debt.

Elena Renderos at 00:40, 17 September 2018

2018-09-17T00:40:04Z

← Older revision		Revision as of 00:40, 17 September 2018
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	See also People’s Law School’s pages on [https://www.peopleslawschool.ca/everyday-legal-problems/money-debt/getting-out-debt getting out of debt], the chapter “[https://www.clicklaw.bc.ca/resource/1727 Creditors’ Remedies and Debtors’ Assistance]” from the manual used by the UBC Law Students’ Legal Advice Program, and the [https://www.nomoredebts.org/canada/bc/credit-counselling.html Credit Counselling Society of BC]’s pages on options for getting out of debt.		See also People’s Law School’s pages on [https://www.peopleslawschool.ca/everyday-legal-problems/money-debt/getting-out-debt getting out of debt], the chapter “[https://www.clicklaw.bc.ca/resource/1727 Creditors’ Remedies and Debtors’ Assistance]” from the manual used by the UBC Law Students’ Legal Advice Program, and the [https://www.nomoredebts.org/canada/bc/credit-counselling.html Credit Counselling Society of BC]’s pages on options for getting out of debt.


	{{Consumer and Debt Law Navbox\|type = debt}}		{{Consumer and Debt Law Navbox\|type = debt}}

Elena Renderos at 23:40, 16 September 2018

2018-09-16T23:40:07Z

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	'''Bankruptcy''' is a legal process where the debtor gives up most of their assets to get rid of their debts. The most common way for a debtor to go bankrupt is to voluntarily declare bankruptcy by making an “assignment in bankruptcy”. Going bankrupt is a long process with serious consequences, so it represents the most drastic option for getting out of debt.		'''Bankruptcy''' is a legal process where the debtor gives up most of their assets to get rid of their debts. The most common way for a debtor to go bankrupt is to voluntarily declare bankruptcy by making an “assignment in bankruptcy”. Going bankrupt is a long process with serious consequences, so it represents the most drastic option for getting out of debt.

	For more on this option, see the section on Assignments in Bankruptcy.		For more on this option, see the section on [[Assignments in Bankruptcy]].

	== Related topics and materials==		== Related topics and materials==

Elena Renderos at 23:39, 16 September 2018

2018-09-16T23:39:53Z

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	A '''proposal''' is an offer a debtor makes to their creditors to settle their debts. The offer can be to pay them a percentage of what is owed, to extend the time to pay them, or both. If the creditors accept the proposal, the debtor pays them under the terms of the proposal, typically for a period of three to five years. If the debtor meets the conditions in the proposal, they will be legally released from their debts — except for a few types of debt, such as support payments.		A '''proposal''' is an offer a debtor makes to their creditors to settle their debts. The offer can be to pay them a percentage of what is owed, to extend the time to pay them, or both. If the creditors accept the proposal, the debtor pays them under the terms of the proposal, typically for a period of three to five years. If the debtor meets the conditions in the proposal, they will be legally released from their debts — except for a few types of debt, such as support payments.

	For more on this option, see the section on Consumer and Ordinary Proposals.		For more on this option, see the section on [[Consumer and Ordinary Proposals]].

	=== Bankrupcty===		=== Bankrupcty===

Elena Renderos at 23:39, 16 September 2018

2018-09-16T23:39:34Z

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	Most debt problems are primarily financial problems, not legal problems. Accordingly, a debtor can take several steps that do not involve the legal process. In many instances, a debtor can resolve a problem directly with the creditor, possibly with the assistance of an advocate.		Most debt problems are primarily financial problems, not legal problems. Accordingly, a debtor can take several steps that do not involve the legal process. In many instances, a debtor can resolve a problem directly with the creditor, possibly with the assistance of an advocate.

	The following solutions apply to debtors who accept liability (responsibility) for a claim by a creditor. If you believe there is a defence that makes the client not legally liable for the claim, see the sections on Contract Defences, Court Process in Consumer and Debt Matters, and Examination of Debtors for ways to resolve the problem.		The following solutions apply to debtors who accept liability (responsibility) for a claim by a creditor. If you believe there is a defence that makes the client not legally liable for the claim, see the sections on [[Contract Defences]], [[Court Process in Consumer and Debt Matters]], and [[Examination of Debtors]] for ways to resolve the problem.

	=== First steps===		=== First steps===

Elena Renderos at 20:10, 9 September 2018

2018-09-09T20:10:23Z

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+This section outlines options a debtor may use to '''resolve debt problems''', from budgeting out of debt to consolidating their debts to declaring bankruptcy.
-| type       = content
+== Client problems==
-| small      = center
+* Client wants to know how to resolve problems with one or more creditors.
-| image      =
-| smallimage =
+== Solving the problem==
-| textstyle  =
+Most debt problems are primarily financial problems, not legal problems. Accordingly, a debtor can take several steps that do not involve the legal process. In many instances, a debtor can resolve a problem directly with the creditor, possibly with the assistance of an advocate.
-| text       = This page is in the process of being updated. Please check back shortly.<br>
-| smalltext  =
+The following solutions apply to debtors who accept liability (responsibility) for a claim by a creditor. If you believe there is a defence that makes the client not legally liable for the claim, see the sections on Contract Defences, Court Process in Consumer and Debt Matters, and Examination of Debtors for ways to resolve the problem.
-}}
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Drew Jackson at 04:21, 29 August 2018

2018-08-29T04:21:51Z

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Drew Jackson at 04:05, 29 August 2018

2018-08-29T04:05:54Z

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	{{REVIEWEDPLS \| reviewer = [[Alison Ward]]\|date= ~~June~~ 2018}}{{Consumer and Debt Law TOC\|expanded = out}}		{{REVIEWEDPLS \| reviewer = [[Alison Ward]]\|date= August 2018}}{{Consumer and Debt Law TOC\|expanded = out}}

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