If you find that you cannot make your payments,the first thing you should do is:
A)skip town.
B)declare personal bankruptcy.
C)borrow from a loan shark to make the payment.
D)let the borrower go to a collection agency.
E)contact your creditors and try to work out a modified payment plan with them.

Question

Quizplus · Accepted Answer

Contacting your creditors and trying to work out a modified payment plan with them is the best option as it shows good faith and willingness to resolve the situation. Skipping town or borrowing from a loan shark can have serious legal and financial consequences, while declaring personal bankruptcy should only be considered as a last resort. Letting the borrower go to a collection agency can also negatively impact your credit score.

If You Find That You Cannot Make Your Payments,the First