Negotiation with Creditors

Negotiating with creditors can be the best solution to get you out of debt. That being said, this step must be undertaken seriously, as soon as financial difficulties start to arise. At BLT Lapointe & Associates Inc., licensed insolvency trustees (personal and commercial) in Montreal, Laval, the South Shore and the North Shore, our advisors can help. But before you do anything, you may want to consider taking a few steps yourself.

What you can do

Before meeting with an accredited professional, you can communicate with each of your creditors directly to see if they might be able to help. Suggest a realistic and reasonable agreement. For example, you can ask them to:

  • Stagger your payments over a longer period of time;
  • Reduce your interest rate;
  • Reduce the amount of debt that you owe.

A few important tips:

  • Make a budget before you call your creditors;
  • Write down the name of whomever you speak with, along with his or her coordinates;
  • Be honest about your situation;
  • Don’t make any offers you won’t be able to keep;
  • Be open to propositions;
  • If you reach an agreement, make sure it is confirmed in writing.
Getting help to reorganize your budget

We can help

Should any one of your creditors refuse to collaborate, the team at BLT Lapointe & Associates Inc. can help you to prepare and negotiate a more formal agreement: the consumer proposal. Thanks to our experience, and with the help of our negotiation skills, you’re chances of obtaining a fast, positive result will increase considerably.

Make an appointment with an advisor

A simple, effective solution

Negotiating with creditors is a solution that can help you to avoid bankruptcy if you have:

  • Stable employment;
  • Good credit history;
  • A level of debt that is not too high.
Learn more about negotiating with creditors

BLT Lapointe & Associates Inc. puts qualified experts at your disposal. They will be able to answer any questions you might have about negotiating with creditors, and suggest other solutions you might explore in an effort to fix your debt problems. Your initial evaluation meeting is free and confidential, with no obligation on your part.