I borrowed £14.000 nine months ago at £240 a month. I now find that with no overtime at work, I cannot afford to pay this much monthly. What should I do?
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Communicate early and often with creditors when you find yourself in this sort of bind. Your lender may be able to work with you to reduce your payments while the money is short. If you don't let the lender know what's happening, he will think the worst, and will start taking collection steps. Be proactive and address the problem quickly.
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Communicate early and often with creditors when you find yourself in this sort of bind. Your lender may be able to work with you to reduce your payments while the money is short. If you don't let the lender know what's happening, he will think the worst, and will start taking collection steps. Be proactive and address the problem quickly.
