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Dealing with Creditors

Constant calls from creditors are a sign that your debts are piling up and need to be dealt with. Creditors are required by law to stop collection actions once you file a consumer proposal or bankruptcy. If you have money worries and can’t make payments, it’s in your best interest to meet with your Licensed Insolvency Trustee (previously known as a Trustee in Bankruptcy), at Harris & Partners. This will help you to understand your options and present your creditors with a solution for the payment of your debt. Harris & Partners provides expert advice and free debt counselling to help you begin getting control of your finances.

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Collection Calls: Know Your Rights

A collection agency is allowed to call you about your debts and they will not tell you what your rights are. Generally, they have to call during reasonable hours (7 AM to 9 PM). It is up to you to know your rights.

Here’s what creditors are not allowed to do:

  • Collect a debt without first notifying you in writing and taking reasonable actions to do so
  • Take legal action without first trying to collect from you
  • Call outside of reasonable hours and bullying, threatening or harassing you or your family members
  • Provide false or misleading information
  • Not identify themselves or give details on the debt

Contact friends, relatives, etc. that have nothing to do with the debt, although they are allowed to ask for your contact information

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Know your options before you talk to your creditors

Don’t call your creditors unprepared. Your Harris & Partners Licensed Insolvency Trustee will provide you with expert advice and can help you assess your finances and figure out what to ask your creditors for when you call them. With this information in mind, you may be able to arrange:

  • Reduced loan balance
  • Reduced interest rate (which will also reduce the total amount you have to pay)
  • Increased amount of time to pay (reducing your minimum monthly payment)
  • Deferral for some payments
  • Settlement by a lump sum

If such a proposal is agreed upon, be sure to obtain a written notification of your agreement that specifies the terms (i.e. that you have no outstanding debt due and that your debt is now cleared with this creditor).

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Talk to someone in a position of authority

Talk to someone in a position of authority (i.e. a bank manager). Make sure you take down the name and contact information for the person you talk to in case you need to refer to the phone call or call the person again. Fully explain your financial situation to the creditor and be forthcoming with evidence if necessary.

Follow these steps on your creditor calls

Follow these steps for the call with your creditor:

  • Make sure you have a budget and refer to if necessary
  • Make a clear proposal – follow up in writing if necessary
  • Be polite – the individual on the other end of the phone is just doing their job, and they may help if you are honest and upfront about your current financial situation
  • Make sure you have a written agreement before making any payments

If you have run into financial problems, let Harris & Partners help you get your debt under control and move forward with your life with financial stability. Work with our licensed trustees in Canada today. Free initial consultations are available.

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Support across Canada

Why Harris & Partners

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Remove up to 80% of your debt

Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.

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We speak your language

Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.

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Debt support across nine provinces

Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.

Book your free debt consultation with Harris & Partners

If you need help from those who specialize in solving debt problems, contact us at Harris & Partners Inc. Licensed Insolvency Trustee. In Canada, our federally Licensed Insolvency Trustees can help you achieve long-lasting financial solutions.

Contact information

It's never too late to obtain debt help. Book your free consultation today

Phone number
888-376-8488
Email
hello@harrispartners.ca
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Shahrad Nakhaie
Shahrad Nakhaie
2022-12-23
They are so great, every thing was so easy for me. Unbelievable, All my debt are gone now and I feel like I'm free, thanks Osman Ali for all you did for me, at the first time it's even hard to believe that was real, but it's real and easy. Thank you bro for your help.
Cody
Cody
2022-12-06
Osman is a professional and you cant find anybody better. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you osman and the rest of the team for helping me through my struggles.
Banda Gueye
Banda Gueye
2022-10-29
Osman is a vert nice gentlemen, he was polite sweet and gentle. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you Osman and the rest of the team for helping me through my struggles.
Kim Brown
Kim Brown
2022-08-29
So far this has been a great company, I have been with them over a year. Every time I have an issue Josh jumps right on it and helps me out. He never makes me feel like I'm being a pain in the butt 🙂 I definitely recommend them, I have referred two of my family members to get help and now Josh is helping them as well. I thank you Josh for all the hard work and responding so quickly to all my messages.⭐️⭐️⭐️⭐️⭐️
Ajanthan Murugananthan
Ajanthan Murugananthan
2022-04-28
Staff members Samuel and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and line of credit and made it manageable. I would highly recommend Harris & Partners Inc. They have given me a new life in my financial life to success.
Paul Woo
Paul Woo
2022-03-01
Staff members Yasan and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and made it manageable. I would highly recommend Harris & Partners Inc.