Options – Nunavut
Options - Nunavut
If you have tried the options described in the Before You Go Further section other options apply to
you (see below).
Consumer Proposal
A consumer proposal is an offer made by a debtor (through a trustee
in bankruptcy or a person appointed by the Office of the Superintendent of
Bankruptcy to administer consumer proposals) to his or her creditors to modify
his or her payments. To learn more about consumer proposals visit the Office of
the Superintendent of Bankruptcy websi
te.
Bankruptcy
Bankruptcy is a legal process performed under the Bankruptcy and
Insolvency Act. Because of your inability to pay your debts, you assign
all of your assets, except those exempt by provincial law, to a licensed
trustee in bankruptcy. This process relieves you of most debts, and legal
proceedings against you by creditors should stop. To learn more about
bankruptcy visit the Office of the Superintendent of Bankruptcy websi
te.
Warning Signs of
Debt | Before going further | "Last resort" options |
Information on collection
agencies | Credit and Credit
Repair | Resources for
educators
|