Debtors' Protection

Debtors' protection refers to legal measures and policies that safeguard individuals or businesses that owe money. It ensures they are treated fairly, preventing aggressive collection tactics and allowing for reasonable repayment options. This protection might include laws that regulate debt collection practices, limit interest rates, or provide protections during insolvency, helping debtors avoid unfair treatment, harassment, or losing essential assets while working toward settling their debts. Essentially, it balances creditors’ rights with debtors’ financial stability and dignity.