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→How do I contact my creditors and what do I say?
==How do I contact my creditors and what do I say?==
You need to provide enough information so that your creditors understand your financial difficulty. Tell your creditors that you would like to pay your debt but cannot do so in full right now.You could offer to pay them an amount you can afford if you have the money to do so. If you have to stop making payments, let your creditors know about your financial situation and that you will tell them when it changes.
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If you have problems that are preventing you from paying your debt, such as health issues or job loss, you should provide proof, such as:
* a letter from your doctor if you have health problems that affect your income;
* documents that show changes in your job. For example, you may have had your work hours cut, or you may have lost your job, or your Employment Insurance benefits have ended; and
* documents that show changes in your family. For example, you may have a new child or you may be taking care of an elderly parent.
Your budget shows the people you owe money to (creditors) what you can afford to pay towards your debts. If a creditor thinks the amount you spend on something is unreasonable, they may ask you to explain why you spend this amount.
Send your letter, any documents, and budget to your creditors by registered mail or fax or email. You want proof that they received it.
If you speak with any of your creditors about your situation, write down their name, number, the time of call, and what you discussed.If the person you were talking to suggests a payment plan, ask her or him to send it to you in writing.