Negotiations with creditors involve discussing and reaching agreement on debt repayment terms.
In Canada, one way of dealing with financial debt is through a commercial or consumer proposal. A proposal allows you to negotiate a repayment plan with your creditors, during which you repay only a portion of the money owed. Groupe Serpone's team of experts will take full responsibility for negotiating your proposal, and for negotiating with your creditors, in order to offer you the best possible solution for your specific situation.
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People who have accumulated personal debts, such as student loans, credit cards, or medical debts, and are struggling to keep up with their monthly payments.
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These are people who have accumulated debts to government agencies, such as income taxes, property taxes or social security contributions.
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People who have made financial commitments, such as mortgages or car loans, and are in default, risking seizure or repossession of their assets.
No matter what stage you're at with your finances, you've come to the right place with us. We'll help you get your financial house in order, and back on track to a bright future.
Detailed analysis of the financial situation enables creditors to be given priority and the financial situation to be negotiated.
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The analysis guides the negotiation strategy: realistic objectives are established and convincing arguments are developed.
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Creditors are contacted to negotiate repayment, with the ultimate aim of reducing debt, obtaining better rates and fair deadlines.
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During negotiations with your creditors, various arrangements can be considered. These may include reducing the total amount of debt, setting up an installment plan, waiving certain fees or penalties, or modifying repayment terms. The type of arrangement will depend on the specific situation and the creditors involved.
If a creditor has not signed a written agreement and has only given you oral consent, they can still change their mind and cancel the agreement at any time. At Groupe Serpone, we strongly recommend the use of a signed, written agreement, detailing each clause, for your protection and peace of mind.
- You don't have many creditors - the amount of your debts is not very high - you're going through a temporary situation that's affecting your finances - you're on good terms with your creditors and they trust you.
Negotiations with your creditors can have an impact on your credit rating. The final decision will depend on the specific policies of your creditors and the agreement reached. However, it's important to note that if you respect the terms of the negotiated agreement, this can help re-establish a good relationship with your creditors and improve your credit rating in the long term.
It is important to continue making payments to your creditors during negotiations. Stopping payments to your creditors can have negative consequences, such as late payments, additional charges or a deterioration in your credit rating. Groupe Serpone will guide you on the best way to manage your payments while entering into negotiations with your creditors.
No, you don't have to be in serious financial distress to benefit from creditor negotiations. Negotiations can be useful in a variety of situations, from temporary financial difficulties to finding better ways to manage your debts. Groupe Serpone will assess your specific situation and provide you with advice tailored to your needs.
I would like to express my sincere gratitude. Your professionalism and the humanity with which you handled my situation softened my experience of this not very gratifying experience. I was very satisfied with the services of the lawyer you recommended, and I would highly recommend him to anyone facing this type of situation. You will be the trustee in bankruptcy that I will recommend in all appropriate circumstances.
