If you borrow money on a single-payment loan and discover you cannot pay it back when it is due you should:
A) let the payment become past due.
B) consolidate the loan.
C) pay prepayment penalty.
D) negotiate a rollover.
E) file bankruptcy.

Question

Quizplus · Accepted Answer

Negotiating a rollover would allow you to extend the loan term and pay it back over a longer period of time, easing the burden of a one-time payment. However, it's important to remember that this would likely result in additional fees and interest charges. It's best to communicate with the lender as soon as possible to explore your options and avoid defaulting on the loan.

If You Borrow Money on a Single-Payment Loan and Discover