It is not that uncommon for the average consumer to find himself strapped for cash at times. There are those times when there is simply not enough cash on hand to pay all of the bills. So what can the consumer do if he does not have the cash to pay on a loan? Here are some tips to help reduce any problems you may encounter when you cannot make a loan payment.
The most important thing to do is to contact the lender as soon as you know that you are not going to be able to make the payment. If you are certain that you cannot make the loan payment, calling the lender will show them that you are not unaware of the payment, and it will also show them that you are not trying to ignore them. Put yourself in their shoes, if someone owed you money would you prefer that they call you and tell you they could not make a payment or would you prefer that they be completely silent and leave you in the dark? Most people would prefer the call.
Before you make the call, understand that the person you talk to will probably ask you some questions concerning when you believe you will be able to make the payment. Do not get too creative at this point. If the reason you cannot make the...
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