People in financial trouble are advised to contact creditors to negotiate a \( \square \) plan.

Creating a debt repayment plan can help people regain control of their finances. By reaching out to creditors, individuals may negotiate lower payments, reduced interest rates, or even settlement options. This proactive communication not only demonstrates responsibility but can also foster goodwill with creditors who prefer working with debtors to find solutions rather than resorting to collections. Many individuals make the mistake of waiting too long to address their financial issues, leading to more stress and fewer options. It’s crucial to approach creditors early and prepare a clear proposal about what you can afford. Being honest and showing a willingness to pay can significantly improve outcomes, making your negotiations smoother and more effective.