Respuesta :
You can delay your payments.
You can cancel the loan.
Discharge the loan by going bankrupt.
The best of these three would be your personal preference..
You can cancel the loan.
Discharge the loan by going bankrupt.
The best of these three would be your personal preference..
Answer:
-Refinance your loan
-File for bankruptcy
-Negotiate with creditor
Explanation:
Three options you have when you cannot meet your responsibility to repay a loan are:
-Refinance your loan: you can replace your loan with another one with different terms like a change on due date or the amount you have to pay to be able to meet your responsability.
-File for bankruptcy: If you can't pay your debt and can't get a different agreement with your creditor, you can file for bankruptcy which can help you restructure your debt.
-Negotiate with creditor: Your creditor could offer options like letting you skip some payments or a settlement to pay the debt.
The best option will be to negotiate with your creditor when you can't pay your loan as it can offer an option that can help you in a easy and fast way to find a solution to repay the loan and that won't generate long-term consequences to your credit score.
