Difference between revisions of "Consumer and Ordinary Proposals"

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== Summary of the law ==

The federal [http://canlii.ca/t/7vcz ''Bankruptcy and Insolvency Act''], in Part III, contains the provisions under which a debtor can make a proposal to all or a class of creditors (for example, only unsecured creditors) to pay off a percentage of their debts, after which the debtor will be discharged at law from owing the balance of the debts to those creditors.

The federal [http://canlii.ca/t/7vcz ''Bankruptcy and Insolvency Act''], in Part III, contains the provisions under which a debtor can make a '''proposal''' to all or a class of creditors (for example, only unsecured creditors) to pay off a percentage of their debts, after which the debtor will be discharged at law from owing the balance of the debts to those creditors.

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	== Summary of the law ==		== Summary of the law ==
	The federal [http://canlii.ca/t/7vcz ''Bankruptcy and Insolvency Act''], in Part III, contains the provisions under which a debtor can make a proposal to all or a class of creditors (for example, only unsecured creditors) to pay off a percentage of their debts, after which the debtor will be discharged at law from owing the balance of the debts to those creditors.		The federal [http://canlii.ca/t/7vcz ''Bankruptcy and Insolvency Act''], in Part III, contains the provisions under which a debtor can make a '''proposal''' to all or a class of creditors (for example, only unsecured creditors) to pay off a percentage of their debts, after which the debtor will be discharged at law from owing the balance of the debts to those creditors.

Difference between revisions of "Consumer and Ordinary Proposals"

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