Non-bankruptcy compromises to give debtors relief while protecting the rights of creditors include:

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All of these options are non-bankruptcy compromises that aim to provide relief to debtors while ensuring that creditors' rights are protected. Compositions involve an agreement between the debtor and creditors where the creditors agree to take a lesser amount than what is owed. Non-statutory assignments for the benefit of creditors involve the debtor assigning their assets to a trustee, who then liquidates these assets to pay off creditors. Receiverships under the direction of a court with equity powers involve a court-appointed receiver managing the debtor's assets to pay off debts. All these mechanisms are designed to resolve debt issues outside of formal bankruptcy proceedings.

Non-Bankruptcy Compromises to Give Debtors Relief While Protecting the Rights