A: Creditors have the right to terminate your Debt Review when:
- Payments are not received according to the payment plan.
- The amount being negotiated is not accepted.
- When a counteroffer is not accommodated.
In the case of a termination, DebtSafe will apply for reinstatement.
The biggest reason we have seen for a creditor to terminate a client’s Debt Review is that the client stops making their monthly Debt Review payments. Missing a Debt Review payment gives the creditor the legal standing to terminate the client’s Debt Review and in the worst case, begin with legal action against the client.