Orderly Payment of Debts: Canada Debt .ca defines Orderly Payment of Debts

Bankruptcy Term Orderly Payment of Debts

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Canada Debt has the definition to the bankruptcy and debt term Orderly Payment of Debts. Finding answers to terms such as Orderly Payment of Debts can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Orderly Payment of Debts in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Orderly Payment of Debts' is used as follows:

Is a Consolidation Order setting out the amount and times when payments are due to the court. Payments are then distributed to your creditors. The interest rate is lowered to a rate set by the court. A plan governed by Provincial Court to allow a debtor to pay his debts in accordance with the sections under Part X of the Bankruptcy and Insolvency Act.