In many circumstances a bankruptcy may not be the best option for the Debtor, or the Debtor may not wish to file a bankruptcy proceeding. In that case, the Debtor may want to consider an out of court workout with its creditors. The Creditor Workout is a consensual arrangement that the Debtor makes with creditors to settle the Debtor’s obligations. The Creditor Workout can be used in a business or an individual consumer case. Since this alternative takes place without court supervision, creditors must be willing to cooperate with the Debtor, and avoid litigation, in order to be successful. In most cases a Creditor Workout results in creditors receiving a larger, more timely distribution than they would receive through a formal bankruptcy proceeding.