Options – Nova Scotia

If you have tried the options described in the Before You Go Further section other options apply to you (see below).

Orderly Payment of debt (OPD Program)
If you are unable to manage your current debts, you can voluntarily seek out a legal proceeding to help you make your payments. To learn more…

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 website.

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 website.

Do you have a student loan debt or a tax debt?

Warning Signs of Debt | Ways to Reduce Your Debt | "Last Resort" Options | Collection Agencies | Credit Reports, Credit Scores and Credit Repair | Resources on Personal Finances and Debt | Glossary of Terms

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