When to tell creditors about proposal
December 24th, 2009 by Questions
Hello. I am filing a CP. I have a creditor that has been quite agressively calling seeking payment. Should I simply tell them that I am in the process of a proposal? Is there any risk to my proposal negotiations by telling my creditors `too soon`, if there is such a thing?
Posted from: Ontario
One Response to “When to tell creditors about proposal”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
December 26, 2009 at 2:31 pm, A licensed trustee said:
If you’ve made a firm committment with a trustee to file a consumer proposal then it is likely ok to start telling your creditors what you are doing. If you’re just “pretty sure” then you should not.
The risk you run in telling your creditors too early is the creditors know it only takes a few days to file – if you string them along for weeks, well you won’t have much credibility…