General Motors ( GM) bondholders say they are not being difficult, despite what the adviser to President Barack Obama's automotive task force has said.

Advisers to the committee of GM bondholders responded late Monday to a statement in the Detroit Free Press by Steven Rattner, the adviser to the task force, who said he believes bondholders "are being quite difficult" in the effort to help restore the automakers' financial health.

"I've been in many difficult discussions with bondholders and this one is certainly right up there," Rattner said. "I can't tell you exactly how or when we'll reach a meeting of the minds with them. We certainly know what our objective is, and sooner or later, they will have to recognize it."

In a prepared statement, bondholder advisers said they have presented the framework of a plan involving a debt-for-equity exchange to the task force. The plan is "consistent with the government's restructuring requirements" they said, and provides a good chance "of completing an out-of-court restructuring by securing a high level of acceptance among a diverse group of GM bondholders -- from mutual funds to pension funds to retail bondholders."

Other options are also on the table, they said. GM shares were trading Tuesday at $2.41, down 11 cents. Shares in Ford ( F) were trading at $2.13, up 3 cents.

If you liked this article you might like

For Tesla, It's Still All About the Model 3

For Tesla, It's Still All About the Model 3

Toyota Dominates 2018 Consumer Reports Rankings

Toyota Dominates 2018 Consumer Reports Rankings

18 Best Stock Picks for the Impending Consumer Spending Boom

18 Best Stock Picks for the Impending Consumer Spending Boom

AT&T 5G and 4 Other Top Stories You Need to Know Before You Trade Wednesday

AT&T 5G and 4 Other Top Stories You Need to Know Before You Trade Wednesday

Wendy's, Roku, GM, AT&T and 3M - 5 Things You Must Know

Wendy's, Roku, GM, AT&T and 3M - 5 Things You Must Know