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Can creditors refuse to accept lower payments under the debt counselling plan?

April 26, 2017counselling Creditors debt lower PAYMENTS Plan refuse

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Can creditors refuse to accept lower payments under the debt counselling plan?

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Creditors do not have to accept any offers of repayment below the contracted minimum. However, it is our experience that they are prepared to accept reduced payment offers where we are able to demonstrate that the offer is reasonable and you are committed to repay your debt through the debt counselling plan.