Negotiating On Your Own

Before you contact your creditors to renegotiate your debts make sure you have all the relevant information handy. Keeping the information about each of your debts recorded in one place will make your negotiations easier and help to insure you have not overlooked a debt.

As all debts are a priority; focus first on the one(s) with the highest interest rate(s).
Schedule a face-to-face meeting whenever possible or contact the creditor by phone.
Explain you want to repay your debt and to do so you are requesting a reduction in your interest rate.
When you speak with your creditor(s) be polite and stay calm. If the person you speak with pushes you to pay more than you can afford, don't give in to the pressure. Calmly and politely say, "That is more than I can afford right now."
Once you reach an agreement with a creditor, write down the agreed upon terms as well as the name, address and telephone number of the person you spoke with, the date and time of the conversation(s), and any additional relevant information.

Call (888) 213-8678 to speak with one of our trained credit counsellors at Consolidated Credit Counseling Services of Canada, Inc. for assistance in this area.

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