When the need for a visit does arise remember to go in with some plan of action. Telling your supplier you cannot make the payments and leaving it at that does not instill a sense of confidence in your situation. I have seen a situation where the producer notified the lender of a payment that was going to be missed before the due date. This allowed the lender to keep many options open to the producer. If the payment had been missed without notification, the lender has very little room for moment in the terms that could be offered now that the account has been flagged delinquent.
Producers have to decide the best course of action.
In most situations creditors will work with the producers who keep them informed of their financial situation. In closing I would to say that if a producer can recognize the problem, seek assistance, try to find solutions and keep the communications open among those involved, then the odds bringing the financial problem to a positive conclusion is very good. Financial Couselling Farm Family Advisor Program Provides confidential peer counseling for farm families wanting a second opinion on improving their farm operation, help in preparing projections for creditors or for those in financial difficulty. This service is free of charge. Farm Consultation Service Provides confidential farm management counseling to farmers.