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Can I postpone some months' payment if I enroll in a consolidation or a settlement program?

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I have decided to repay my debts with the help of a consolidation or a setleemnt program that suits my financial condition. However, I want to know that do I have to pay an amount every month or can I stop payment for 1 month if there's any financial emergency?

If you delay making the payments, the settlement process will slow down. Because debt relief companies require you to save a certain amount in their escrow account after which they start the negotiation with your creditors. The more you delay, the longer it’ll be to get your financial freedom.

Sub: #1 posted on Wed, 03/08/2017 - 15:59

Phil Bradford Phil Bradford

(Posts: 122 | Credits: 12.58)

If your paycheck is too strained, then seek a side gig to supplement your income and provide for your emergencies.

Sub: #2 posted on Wed, 03/08/2017 - 18:57

paulcahill80 paulcahill80

(Posts: 2359 | Credits: 258.2)

When you are opting for a professional debt relief program, arrange your finances in a way to make the payments every month. You can discuss with the debt relief company to decide on a payment which you can easily afford to pay every month.

Sub: #3 posted on Fri, 03/10/2017 - 16:42

Good Nelly Good Nelly
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(Posts: 2582 | Credits: 524.25)

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