“The agreement with creditors is an option that you can execute without help from the trustee. The trustee can only help in official procedures, if you do not want to try this option or alternatively if your creditors have not accepted your proposal.
Often the creditors are open to an agreement. Get in touch with them and explain the nature of your financial difficulties. Creditors often prefer to make an agreement with you rather than forcing you to declare bankruptcy. This option is beneficial for both you and your creditors.
Creditors will often accept reduced payments over a predefined period of time. You can also propose a reduced interest rate so you can pay the debt and instead of just paying off the interest.
We recommend trying this option yourself by formulating a plan with a series of proposed solutions for your creditors. Then call them in a friendly manner and try to reach a compromise. Since creditors are not obligated to compromise with you, it is important to build a good relationship with them or they may reject your proposal.
It is imperative to follow the agreement to the letter and not make any late payments. This solution is a prerogative based on the fact that you want to pay off your debts but are unable to do so. If you respect the agreement, it is a sign of good will, and it may be easier for you to get credit in the future.”