What If I Can’t Pay the Loan on Time?
If you can’t pay the loan on time, talk to your lender to see what your options are. Here are
some potential solutions:
Contact the provider as soon as you realize you can’t repay by the due date. Some
companies will extend the repayment period.
Personal loans have lower interest rates, so check if you can apply for it.
If you belong to a credit union, you can request alternative loans.
Look for advice from the National Federation for Credit Counseling.