Negotiating a debt with a creditor
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Overview
If you owe money and are having trouble paying, you can try to negotiate with the person you owe (the creditor).
You can get free advice on financial problems.
Preparation
It is good to prepare well for a conversation with a creditor and to:
find out how much you can pay (payment ability)
write down the topic you want to discuss, such as:
amounts
number of instalments
interest rate
times
set realistic goals to increase the likelihood of reaching an agreement.
You can look at ways to improve your finances.
Contact
You contact the creditor by calling, sending an email or visiting the place.
Explain your situation and that you:
are struggling to pay off a debt or loan
would like to explore the possibility of renegotiating or drawing up a new payment plan
You need to be ready to give information about your financial situation.
Next: Points of agreement
Service provider
The Debtors' Ombudsman