THE AGREEMENT
The amount agreed upon in any negotiation with your creditors must be realistic and the corresponding budget must be based on reasonable terms and conditions that can be respected in order that they be acceptable to the creditors. Frank and honest discussions with your creditors can, and in many cases, avoid more serious problems. In the event that the creditors are unwilling to negotiate a settlement, you will always have the option to propose a formal agreement to be negotiated by your trustee. In general, creditors prefer to make an effort to negotiate an agreement with a client, rather than to have you file for a bankruptcy.