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What to do if a creditor refuses your offer?

What is the likelihood a creditor will refuse my payment offer?

It really depends on the creditor, some will accept while others will decline. If your proposal does get declined, then the 'Reconsider my pro-rata offer sample letter' is applicable to see if they will re-assess the offer. The best thing to do within the letter is to portray your case again, your reasoning and a financial situation in which they can evaluate and see how you have budgeted. In addition you could, as a gesture of goodwill, begin the payments you laid out originally. Furthermore, if it is applicable, give evidence to show other creditors have accepted your proposal. Moreover, if they fail to accept your proposal, it will upset the balance you have arranged with your various other creditors and that you are trying to treat them all equally.

Areas Covered

  • Can I persuade the creditors to freeze the interest?
  • What options do I have if the creditors still refuse me?
  • If they continue their refusal, should I accept this and concede?
  • Can I have my case referred elsewhere?

Download - What to do if a creditor refuses your offer? guide