Does debt relief law require me to talk to my creditors?

In California, debt relief law does not necessarily require you to talk to your creditors. However, it is strongly recommended that you take the time to contact your creditors and explain your situation to them as it can be helpful in working out a more favorable repayment arrangement. Debt relief law in California is designed to give consumers more options and resources to be able to successfully and responsibly manage their debts. One way debt relief law helps individuals is by providing legal protections from aggressive creditors, by giving people additional time to create a payment plan, and by making it easier for people to negotiate for lower interest rates or fees. Without the help of debt relief law, creditors are often much less likely to work with people to establish a payment plan or waive fees. Along with talking to your creditors, you might benefit from using the services of a debt relief attorney or nonprofit credit counseling agency. These professionals can review your individual circumstances and suggest solutions or even negotiate a plan with creditors on your behalf. No matter what, it’s important to stay in constant contact with your creditors until the debt is paid off. If you’re unable to make payments on time, contact them to let them know and explain why. Creditors are often more willing to work with debtors who demonstrate an active effort to make payments.

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Does debt relief law require me to talk to my creditors?

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