Do you want to know how to communicate with your creditors? You may be interested in the following information.

Debt settlement service merchants must negotiate with your creditors in accordance with the terms set forth in the contract. The contract must spell out the proposals to be presented to each creditor.

The rules presented in this page apply to merchants who offer either of the following services:

  • negotiating a debt settlement with your creditors;
  • receiving funds to be distributed to your creditors.

Proposal accepted by a creditor

When a creditor accepts the merchant's proposal, both parties must enter into a written agreement in principal. The merchant then has 15 days to send you a copy of this agreement.

A document must be appended to the copy of the agreement. The following information, as it appears in the contract, must be included in this document:

  • the proposal the merchant undertook to make to the creditors, include the terms and conditions of payment; and
  • the amount of any payment to be made by the merchant to the creditors, and the frequency and dates of the payments, if applicable.

You can either accept or refuse the proposed agreement. If you accept it, the merchant will ask you for written confirmation.

Proposal refused by a creditor

If a creditor refuses the merchant's proposal, the merchant must immediately notify you of that fact, both verbally and in writing.

The creditor is deemed to have refused the proposal if the merchant has not received the creditor's acceptance of the proposal at either of the following times, whichever comes first:

  • when the merchant sends you a summary document, the purpose of which is to notify you of the progress made; or
  • within 45 days after entering into the contract.

Debt settlement service merchants are required to send you a summary document on a regular basis. The purpose of this document is to inform you of the progress of their work.

This document is mandatory when the merchant offers you either of the following services:

  • negotiating a debt settlement with your creditors;
  • receiving funds to be distributed to your creditors.


You must receive this document:

  • within 45 days after entering into the contract; and
  • every 60 days thereafter until the contract ends.

Mandatory information

The document must indicate:

  • the list of creditors who have accepted the merchant's proposal;
  • the list of creditors who have refused the merchant's proposal;
  • the total amount of the payments the merchant must remit to each creditor;
  • the amount of the charges and fees you will have to pay;
  • the amount, total number and frequency of the payments you will have to make, and the dates on which they must be made.

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Last update : February 28, 2023

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The information contained on this page is presented in simple terms to make it easier to understand. It does not replace the texts of the laws and regulations.