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== Summary of the law ==
[[File:Consumer_Law_and_Debt_-_Consumer_and_Ordinary_Proposals.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]]
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.