Abstract:
Bankruptcy law should generally be inclined towards debtor rehabilitation, and bankruptcy should only come about as a last resort. A debt repayment scheme (“DRS”) has been proposed to help wage-earner debtors with relatively small debts to avoid bankruptcy. This article examines the key features of such schemes and other related debt rehabilitation models in various jurisdictions. These features will help in understanding the core concepts underpinning the likely framework of the proposed DRS legislation.