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Will the creditors to agree if payment is done after few months?

Date: Thu, 07/04/2019 23:14

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My friend Nancy is in debt and she has been laid off as well. Will the creditors accept if she tells them that she can make the payments once she gets a suitable job. The amount is somewhat $9000 all total. Most likely she'll get a job; otherwise she'll start doing part-time for the time being.

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Total Replies: 3

See there is no option right now. So it's best to tell creditors about the situation. If your friend is a responsible borrower, then creditors may agree to give some time or create an affordable payment plan for her. In most cases, creditors offer a hardship plan to debtors when they are genuinely in financial problems.

Sub: #1 posted on Fri, 07/05/2019 - 00:25

Nick Jonas

(Posts: 428 | Credits: )

If she has some savings, then ask her to request to the creditors for settlement. She can sell some items to manage the money. Or, she can enrol in a debt settlement plan to get out of debts.

Sub: #2 posted on Sun, 07/07/2019 - 22:15

Sanders Patricia

(Posts: 1239 | Credits: )

During the first 3 to 6 months of nonpayment, she will receive snail mail and phone calls from her creditor. After that, most likely, her creditor will sell off her debt to a collection agency. I would suggest her to look for a full-time or part-time job immediately! And then she can opt for debt consolidation to pay off her debt with ease.

Sub: #3 posted on Tue, 07/09/2019 - 22:52

Craigh.terry

(Posts: 273 | Credits: )