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 : May 3, 2021

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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.