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priyaforum · Joined: 21 Jul 2009 Posts: 26 3.34 Dollars($)

I have two loan,one is mortage and other is personal loan.
I paid payment regularly from last 1 year , but from last 2 month i unable to pay payment. I thing i will not pay payment upto 6 month because of reccesion in business.

please let me know how can i face this situaion ?
One of my friend has given me advoice that declare bankcrupcy.
So this is one way to handle this situation??

Thanks..

JKennedySLG · Posted: Tue Jul 21, 2009 9:20 am Post subject:

Before claiming bankruptcy, you should contact the institutions which lent you the money and see if you're able to work out a payment plan. You may have an opportunity to make reduced payments for a period of time until you're able to afford the payments. I hope this helps...

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Unable to pay payment..??