Factsheet on creditor payment issues

The creditor has declined my proposal for re-payment, what should I do?

When making an offer of payment to the creditors you are likely to receive mixed feedback.

Each creditor reacts differently to offers of repayment and it is common some will accept and some will decline.

The next step is to write to the creditor again and supply them with a personal budget sheet.

Further make contact with your creditors and let them know if any of the other creditors you have offered payments to have accepted the proposal.

If you have evidence proving the acceptance of other creditors, send photocopies.

Also you can make a point to the creditor that changing your offer would upset the balance between all the other creditors and you must treat everyone fairly.

You can also encourage the creditor to accept your proposal by making a gesture of goodwill. To do this you should start making the regular payments that you offered.

Areas Covered

  • The creditor has rejected my proposal to stop adding interest
  • I am still having no luck with the creditors accepting the proposal
  • My creditor is threatening court action
  • Is there a point where I should simply pay what the Creditor wants?
  • Is there a place to submit any complaints?
  • What if my complaint is about a bank I was dealing with?
  • Is my creditor part of The Trade Association?

Download Factsheet on creditor payment issues