What if i can't afford my loan payments?
Asked By: Pansy Carroll
Date created: Wed, Feb 10, 2021 11:35 AM
Date updated: Sun, Jan 15, 2023 3:28 AM
Top best answers to the question «What if i can't afford my loan payments»
You should contact the creditor as soon as possible and explain that you're having a hard time and can't pay the bill. The creditor may be willing to put your loan into temporary forbearance if your financial shortfall is a short-term one, or may allow you to work out a repayment plan.
What should I do if I can't afford my student loan payment?
- For federal student loans, there are several repayment plans available to reduce your payments, including: You may also be able to postpone your payments under deferment or forbearance.