I enlisted in the service and won't be paid for a month or more initially. How can I handle payments I already have for things like my car?
Untitled
Lenders can often grant payment extensions in situations such as this. It is best to arrange them in advance. What happens is, a standard fee or the amount of interest for the payments extended is either paid then or added to the end of the contract to be paid with the final payment. This relieves you of the larger payment burden when income isn't received. Ask your lender if it offers this option.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Lenders can often grant payment extensions in situations such as this. It is best to arrange them in advance. What happens is, a standard fee or the amount of interest for the payments extended is either paid then or added to the end of the contract to be paid with the final payment. This relieves you of the larger payment burden when income isn't received. Ask your lender if it offers this option.
