Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I understand that the government has asked lenders to give debtors 30 days grace if they are using a Debt Counsellor – how will this affect me?

April 26, 2017affect counsellor debt Debtors government grace lenders understand

0

Posted

I understand that the government has asked lenders to give debtors 30 days grace if they are using a Debt Counsellor – how will this affect me?

1 Answer

0

Posted

. BIS has asked creditors to give debtors 30 days grace in pursuing recovery or collections action if the debtor has approached a debt counsellor to help them resolve their problems. In our experience when we tell creditors or their third party debt collectors we are acting for you most of them are willing to give us time to put repayment proposals to them and accept them when we do.